For De Beers, diamonds are gold

Diamonds are gold. Or rather, the sale of diamonds is truly rich: De Beers, the world’s largest group in the diamond sector, exceeded one billion dollars in operating profit in 2013, with a growth of 112%. In November 2011, the Anglo American group rose to 85% of the share capital of De Beers, purchasing a 40% share from the Oppenheimer family. The remaining 15% of the world’s number one diamond mining company is in the hands of the government of Botswana. The 2013 performance was achieved with an increase in revenues to 6.4 billion dollars (about 4.67 billion euros) and a favorable exchange rate. All good, then, except in India, where “difficult economic conditions and a devaluation of the rupee caused a drop in demand. The US market, on the other hand, recorded positive growth, with a good performance in the fourth quarter thanks to the holidays. China continued to show positive growth rates, but at levels consistent with slowing economic development,” it said in a statement.