The diamond company has been forced to cut prices to sell its cheaper gems in recent months, and its sales have been depressed
The CEO of De Beers says an improvement in diamond sales demonstrates that the poor demand for smaller stones that has plagued the company and its competitors in recent months is stabilising.
“If you see the results we’ve published earlier this week it’s the best sight we’ve had this year,” Cleaver said in an interview in Cape Town on Thursday. “We are seeing a stabilisation in the lower-end goods so we would expect over time that it would work itself out as supply slowly normalises.”
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