The price of a small rough diamond has increased almost 20 percent since March.
, the other major player in the diamond market, would have been able to up supply using its stockpiles. Just two decades ago, the company’s safes in London reportedly held $5 billion in diamonds. But now the company carries only working inventory stocks.
De Beers’s supply likely won’t increase greatly until 2024, when an expansion at its flagship South African mine will be finished. Even then, the company doesn’t produce many of the smaller diamonds Alrosa is known for.
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