The diamond business is experiencing none of the step-change price increases of copper, uranium, platinum and gold but is still having to deal with the same high cost increases, says De Beers group MD Gareth Penny.

“So we just have to run a tighter ship,” says Penny. His target is to keep cost rises down to single digits. “That’s a challenge, but I think we’ll meet it,” he says.

He describes current diamond price growth as “modest and incremental”.


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