De Beers sees another year of growth

[dArKeR]

World number-one rough diamond miner De Beers sees a third consecutive year of earnings growth in 2004 on the back of good global growth, De Beers MD Gary Ralfe said on Thursday.

The key countries where De Beers sees growth are the major diamond consuming markets of the United States and Japan as well as major developing markets such as China and India.

During 2004 De Beers sees a 7% increase in its diamond output, after increasing output by 9% in 2003 from 2002.

Demand for rough diamonds continued to be strong in January, and as a result the Diamond Trading Company (DTC) increased its rough diamond prices at the first site of the year by 3%, after increasing prices by a total of 10% in 2003.

http://www.mg.co.za/Content/l3.asp?ao=30698

Who's got money to buy a diamond?

[Taeger]

1. Enjoy it while it lasts

In ten years DeBeers will be completely powerless. The artificial diamonds are better than the real thing.

DeBeers had best get into another rape and pillage industry like Gold or Oil if they want to keep being mega-assholes!!!!

[JPace]

2. I heard that there were artificial diamonds as good

as the real thing coming out over five years ago
and still nothing. I figured DeBeers might have
bought them out to stop it.

What will these fake diamonds be called and when
are they coming out?

[Taeger]

3. They're already out

Go ask your jeweller. They'll be able to point them out.

DeBeers has a quality campaign. They laser etch their "natural" diamonds so people can tell the difference.

The jewellers don't care. Especially in pieces with multiple small stones. It's more profit for them since the artificial diamonds are cheaper.

Seriously, the 21st century will be the century of carbon. They have found ways to grow diamonds into sheets. They will eventually use them to make super-super fast semiconducters (the current ones melt to easily ;-)) Carbon nanotubes will lead to Mega strong rope and fabric. There is a project to construct a "space elevator" which will make orbital tourism cost feasible.

DeBeers is living on borrowed time.

Ahh found a good link for you:

http://www.wired.com/wired/archive/11.09/diamond.html?pg=1&topic=&topic_set=

NPR also did a piece on it, but I can't find it.

[Chicago Democrat]

4. Diamonds= Blood

At least a whole bunch of it supports bad guys in Africa. Anyone should really think about that before they buy one..

Perhaps a good answer is to buy antique diamonds or the artificial ones.