Diamonds’ Former Monopolist Bows to Market Forces to Spur Demand

De Beers, the one-time world diamond monopoly, is bowing to market forces.
The Anglo American Plc unit, still producing about 30 percent of supply, is said to have lowered prices almost 10 percent last month, and is plowing tens of millions of dollars into an advertising push to spur jewelry sales. That’s after two reductions in its annual output target, by a total of as much as 15 percent, failed to halt an accelerating slump in prices of the uncut gems.

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