Diamond Crisis - De Beers Records Lowest Profits Since 2009
De Beers Group reported the worst set of earnings in more than a decade. The international corporation with diamond exploration, diamond mining, diamond retail, and diamond trading segments across the world, has warned the diamond industry is headed for a crisis.
To summarize, weak consumer demand in North America, collapsing demand in China and Hong Kong, oversupplied conditions, and a global economy that continues to decelerate, this only means one thing: The diamond industry is headed for a crash.
https://www.zerohedge.com/markets/diamond-crisis-de-beers-records-plunging-profits
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