GJ Town India

DeBeers 3Q set new natural diamond marketing collaborations   Talking about the Trading Performance for the 3Q, DeBeers Group said, new natural diamond marketing collaborations were established with world-leading diamond jewellery retailers: Signet in the US and Chow Tai Fook in China, with further opportunities planned.   The collaborations focus on driving long term desirability for natural diamonds in two of the world’s leading consumer countries for natural diamonds. The collaborations will also benefit from promotional messages being amplified through the wide reach of these leading retail businesses. De Beers also announced the introduction of DiamondProof, a new device to be used on the jewellery retail counter for rapidly distinguishing between natural diamonds and lab-grown diamonds, supporting retailers in communicating the attributes of natural diamonds, providing customers with enhanced confidence in the authenticity of their natural diamond purchase and de...

Production guidance 2024 unchanged at 26-29 mn cts   Recently, Anglo American plc presented production report for the second quarter (2Q) ended 30 June 2024. At the point, Duncan Wanblad, Chief Executive of Anglo American, said: "De Beers' diamond production reflects the lower revised guidance announced in our first quarter production report. Trading conditions became more challenging in the second quarter as Chinese consumer demand remained subdued.   With higher than normal levels of inventory remaining in the midstream and an expectation for a protracted recovery, we are therefore actively assessing options with our partners to further reduce production to manage our working capital and preserve cash.”   Rough diamond production decreased by 15% to 6.4 million carats, primarily reflecting the lower production guidance announced in the first quarter production report in response to the higher than normal levels of inventory in the midstream, and the expectat...