HomeDiamonds & GemstonesDiamond demand is stabilising

Diamond demand is stabilising

Diamonds “’
international demand
has started to stabilise
London, England — MININGREVIEW.COM — 19 October 2009 – The demand for diamonds has started to stabilise, according to De Beers chief executive in Botswana Sheila Khama, who adds that the company’s flagship mines are now operating at 80% of capacity.

Revealing this in an interview with The Financial Times, Khama said: “Consumption has not improved to anywhere near the levels that we are accustomed to “’ but the abrupt rate at which it was dropping has started to stabilise.”

Khama told the newspaper that the pace of recovery was picking up. “We are seeing an improvement in the level of sales and the availability of finance to our clients,” she added.

De Beers “’ which produces around 40% of the world’s rough diamonds “’ was forced to shut down its Botswana operations earlier this year in response to a slide in demand for the gem.