New De Beers, old dilemmas.(diamond industry information)

From: Israel Diamonds | Date: August 1, 2001 | Copyright information

The new De Beers had hoped its stockpiling days were oven But if the U.S. economy continues to sputter, the company may not have a choice.

De Beers Chairman Nicky Oppenheimer once admitted that the industry doesn't always rely on the company at whose head he stands. "People often say, `We don't need De Beers,' and it's true, in good times you don't," he told JCK magazine in 1998. "It's in bad times that people recognize the benefit of the CSO."

Today the Cen...

Read all of this article with a FREE trial to HighBeam Research

Related newspaper, magazine, and journal articles from HighBeam Research

The New De Beers Meets an Old Dilemma.
Jewelers Circular Keystone ; The new De Beers had hoped its stockpiling days were over. But if the U.S. economy continues to sputter, the company may not have a choice. Nicky Oppenheimer once admitted that the industry doesn't always need De Beers. People often say, 'We don't need De Beers,' and it's true, in good times you
News Focus: De Beers moves back into the Oppenheimer family fold.
The Birmingham Post (England) ; Byline: RICHARD TYLER The fabulously-wealthy Oppenheimer dynasty took diamond king De Beers back into the family yesterday in a multi-billion dollar deal that is expected to keep the diamond trade closed to all but the privileged few. The Oppenheimers' decision to join up with mining conglomerate
Industry skeptical about De Beers downstream.
Israel Diamonds ; De Beers emphasizes that its retail joint venture with LVMH will be divorced from its core rough diamond business. The stores will be just other players on an even field, it says. In the meantime, the industry is not so sure. For years, the diamond jewelry market has feared that De Beers would open
Report: De Beers close to deal with U.S.(Brief Article)
Jewelers Circular Keystone ; De Beers is not commenting on a recent Wall Street Journal report that it is close to ending its long-running dispute with the U.S. Justice Department. Spokeswoman Lynette Hori told JCK: There is nothing more to say other than we are hopeful of a resolution with the Department of Justice We cannot
DE BEERS IN THE DUMPS.
Jewelers Circular Keystone ; De Beers has stumbled into a pile of troubles, as the European Commission--and even its own clients--question whether its new strategy is all it's cracked up to be. Change is painful, De Beers executives sometimes note when quizzed about the agony of sightholders who are trying to comply with its