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Vol 49 No 24

Published 28th November 2008

Slowdown hits the sparklers

New diamond mines no longer seem the prospect they once were

The new poor do not buy diamonds, so the big producers hope to keep their profit margins up by cutting production. A conference on 17 November organised by the Antwerp World Diamond Centre (AWDC) was called boldly 'Confidence in Challenging Times'. The conference delegates were facing a 20% fall in prices since early September, when the world financial crisis began to bite.

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