De Beers Diamond Sales Slide As Market Weakness Persists

De Beers diamond sales plunged 39 per cent at is most recent sales event, confirming a deepening slowdown in the industry. The Anglo American-owned diamond miner sold $295m of rough diamonds at the Botswana sales event in September, compared with $482m a year earlier. Diamond buyers, who polish and cut the rough diamonds and sell them on, are struggling to make money this year because of lower prices and tighter credit conditions, prompting them to hold back on purchases.