DeBeers unfazed by low diamond prices.(De Beers Consolidated Mines Ltd.)

African Business | April 1, 1999| | Copyright

Despite a 28% drop in sales (to $3.3bn) through the Central Selling Organisation last year, De Beers has not abandoned its development and exploration projects in Attica. "We take a long-term view of the diamond industry," says James Campbell, the personal assistant of De Beers President Nicky Oppenheimer and head of the company's Geology Department "It is fairly cyclical. We foresee, along with global economists, an upturn in the world markets towards the end of the year. We are assuming, therefore, that there will also be an upturn in diamond sales."

However, ...

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