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De Beers woos safe-haven investors

De Beers has launched a global campaign to convince investors that diamonds are an alternative to gold as a safe-haven investment. The move is a sign of the pressure on the world’s biggest diamond miner to find new markets following the collapse of traditional sales. Stephen Lussier, De Beers’ executive director for corporate affairs, told […]

De Beers has launched a global campaign to convince investors that diamonds are an alternative to gold as a safe-haven investment.

The move is a sign of the pressure on the world’s biggest diamond miner to find new markets following the collapse of traditional sales.

Stephen Lussier, De Beers’ executive director for corporate affairs, told the Financial Times the group had been approached in the past two months by “half-a- dozen” brokers linked to sovereign wealth funds and wealthy individuals.



He refused to identify them but said talks were in early stages.

Rare stones, like that big blue diamond that sold for $9.5 million recently will always find their purchasers.

Big stones, stones of unusual color or clarity, stones with a unique historical provenance, these stones will likely grow in value over time.

These stones are not the norm however and analysts and investors say that the closed nature of the diamond market made them a much less attractive option than gold.

Read the full story @ FT.com

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