The Covid-19 pandemic has devastated the diamond industry, including leading miner and gems retailer De Beers. Photo: BloombergThe Covid-19 pandemic has devastated the diamond industry, including leading miner and gems retailer De Beers. Photo: Bloomberg
The Covid-19 pandemic has devastated the diamond industry, including leading miner and gems retailer De Beers. Photo: Bloomberg

Diamond majors De Beers, Alrosa sit on billions of dollars worth of unsold stock as coronavirus freezes industry

  • The world’s five biggest gems producers are probably sitting on excess inventories worth about US$3.5 billion
  • De Beers and Alrosa stay put on prices and have reduced output in a bid to control stock levels
Topic |   Coronavirus pandemic
The Covid-19 pandemic has devastated the diamond industry, including leading miner and gems retailer De Beers. Photo: BloombergThe Covid-19 pandemic has devastated the diamond industry, including leading miner and gems retailer De Beers. Photo: Bloomberg
The Covid-19 pandemic has devastated the diamond industry, including leading miner and gems retailer De Beers. Photo: Bloomberg
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