De Beers Intends to Lower Its Production for its Mines Life
De Beers Intends to Lower Its Production for its Mines Life

Diamonds are forever, but what if Mother Nature is not capable enough to provide any more diamonds for you? Well, we cannot blame Mother Nature for the scarcity, because we tend to exploit everything, including Mother Nature, so that we can fulfill our exceeding demands.

According to Des Kilalea, a diamond analyst at RBC Capital Markets, De Beers will lessen its production to extend the life of its mines. Taking into consideration the modest output, diamond prices could rise by no less than 5% a year for the next five years.

De Beers believes that the supply of diamonds is running out over the long term, which is prompting the world's leading miner of the gems to cut production, in an effort to expand the life of its mines.

Gareth Penny, Managing Director said that De Beers' move, which will see production table at about 40m carats per year from 2011 as contrasted with 2008 production of 48m carats, expects new Asian demand accelerating the diminution of the world's existing diamond mines.

For 20 years, the trade has not been able to find new diamond deposit to match De Beers' two biggest mines in Africa or the best Russian mines of Alrosa, which is the other big diamond manufacturer.

Diamonds are a fortune of nature that should be appropriately protected, because less will be available for selling purpose. The reality is that supply cannot keep up, and that will become much stressed over the next 15 years.

There is a natural supply-demand imbalance and this is why, De Beers will concentrate on lowering its production for the benefit of nature and humans.

Rough diamond production seems to have sucked the life out of mines. It needs to be in passive phase, so that nature can revive its potentialities, in order to fulfill our desires and temptations for our love for this precious rock.

Latest News

Mobile service will offer cancer advice in Plymouth later this month
Skin cancer drug ‘bexarotene’ reverses Alzheimer's in mice
David Cameron "at one" with Andrew Lansley over NHS changes
Morning-After Pill Machine at Shippensburg University
Gabrielle-Union
Sir Abraham Lincoln, Life and Truths
Tesla Announces New Sports Car Model X
Apple-iPad3
Women Unconcerned About Heart Health
Cheerleading Event Ends Up with 229 Norovirus Cases
Plastic Surgery Numbers Rise with Economy, Stay Below Peak
Marin Cases Not Linked to Mad-cow Disease