Diamonds: De Beers Profits and Sales Fall in 2012 & More

De Beers on Ice De Beers saw profits and sales fall in 2012, the result of what it called “challenging” trading conditions and gyrating diamond prices. Total sales dropped 16 percent to $6.1 billion. Operating profit dropped 45 percent, to $815 million. Overall, the company’s rough prices slipped 12 percent last year, with particularly strong drops in the third quarter, thanks to depressed demand and high cutting center stocks, according to a company statement. By year’s end, however, prices had stabilized, the statement said. The miner expects moderate growth in demand throughout 2013, with improvements forecast in the United States, India, and China. De Beers Adonis Rose one-line bracelet with diamonds in white gold; £22,000 Missing in Auction iStockphoto In April 2012, diamond dealer Brett Stettner made headlines when he won the top lots at both So

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