De Beers Diamond Sales Up 27%, Cautious Outlook

The De Beers Group said Friday that total sales increased 26 percent year-over-year to $7.4 billion. Sales of rough diamonds by the Diamond Trading Company, the company’s the rough diamond sales and distribution arm, increased 27 percent for the year to $6.5 billion—the second highest level of sales for the diamond giant. Diamond prices for 2011 rose 29 percent as diamond production fell 5

Anglo American Buys 40% Stake in De Beers Group for $5.1 Billion

The Oppenheimer family, which has owned the the De Beers Group  for more than 80 years, announced Friday that it will sell its remaining stake in the company to Anglo American plc for $5.1 billion in cash.The move will boost Anglo American’s current 45 percent stake in De Beers to 85 percent. Nicky Oppenheimer will remain as chairman of De Beers and the recently hired CEO, Philippe Mellier, will

De Beers Opens Ventures Capital Firm in Silicon Valley for its Man Made Diamonds

Element Six single crystal synthetic diamonds are used for cutting, optical, electronic and detector applications.

De Beer’s strategy of going outside the diamond industry to hire Philippe Mellier, who previously worked in the power generation and transport markets, may be paying off in ways that few of us anticipated.
What few people talk about, when discussing the De Beers Group is its full

De Beers Reports Record Rough Diamond Sales

Rough diamonds image courtesy of De Beers Group

De Beers Group said Tuesday that sales of rough diamonds during the first half of 2011 through the Diamond Trading Company (the rough diamond distribution arm of the De Beers) increased 33 percent, year-over-year, to $3.5 billion This is the highest ever sales figure recorded for the first half of the year, buoyed by continued retail demand from

Devon Pike Named CEO of De Beers Diamond Jewellers U.S.

With the news of the hiring of Philippe Mellier as De Beers CEO on Monday, another high-profile hiring by a division of the diamond giant went a bit under the radar. De Beers Diamond Jewellers said Monday that Devon Pike has joined the company as chief executive officer of its U.S. business. Pike is a veteran merchandising, marketing and retail executive, who previously served as a senior vice

De Beers Names French Transport Exec as New Group CEO

Philippe Mellier

The De Beers Group has gone outside the diamond industry to appoint Philippe Mellier as its new chief executive officer.

Mellier, currently the president of Alstom Transport and executive vice president of Alstom s.a., was selected after what the diamond giant described as “a wide-ranging search.” He will formally join De Beers in July and will chair the company’s executive

Global Diamond Demand and Prices are Up

During the past couple weeks, diamond centers throughout the world have been reporting on exports and imports of the precious commodity and in every case the results have been strikingly positive when it comes to demand and price.

India
India on Tuesday was the most recent place to report its earnings. The country’s Gem and Jewellery Export Promotion Council provided results for the 2010-11

De Beers Issues Kimberley Process Support Statement

The Kimberley Process Certification Scheme received an important statement of encouragement by the world’s largest diamond company.

The De Beers Group reiterated its support in the Kimberley Process—a global effort to end the trade of “blood” or “conflict” diamonds—in a statement at the end of its annual financial report Friday. The international organization of diamond industry representatives

De Beers 2010 Sales Up 53 Percent

De Beers Group said Friday that total diamond sales in 2010 increased 53 percent year-over-year to $5.88 billion. Sales of rough diamonds in 2010 by the Diamond Trading Company (the rough diamond distribution arm of De Beers) totaled $5.08 billion, compared with 3.23 billion in 2009.The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) grew to $1.43 billion, an