De Beers to close Swiss diamond sales operation

The king of rough diamonds, De Beers, said on Thursday it was closing its sales operations in Lucerne, Switzerland, to focus its European selling in London, Reuters reported.

The company said it would keep an office in Lucerne, but the sales operation of its Diamond Trading Company would move, Reuters reported. It could not say how many jobs would be affected until it had finished consulting Swiss staff on the decision.

De Beers was bought out earlier this year for $19 billion by a consortium, DB Investments, led by mining conglomerate Anglo American and South Africa’s Oppenheimer family.