De Beers Will Let Buyers Reject More Diamonds to Fend Off Crisis

By | Uncategorized
  • Buyers can sell back more diamonds to De Beers, people say
  • De Beers is making concessions as diamond industry struggles

De Beers will let buyers reject more diamonds at a sale next week as the mining company shows almost unprecedented flexibility to ease a growing crisis.

The Anglo American Plc unit has told customers they can refuse to buy half of the stones offered that are smaller than three-quarters of a carat, according to people familiar with the situation, who asked not to be identified as the matter is private. Buyers will also get the option to sell back some diamonds to De Beers on favorable terms, the people said.

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