De Beers confirms possible Diamdel overhaul

London—De Beers has denied speculation that it will cease operations of
Diamdel, its independently managed rough-diamond trading company that
supplies the secondary market, but confirmed it was looking at
restructuring.

“Contrary to reports in the trade press, there are no
plans to cease the Diamdel operations,” said Lynette Gould, spokeswoman
for De Beers External Affairs. “De Beers recognizes the importance of
the secondary market. However, we can confirm that Diamdel has entered
into a consultation process with employees regarding the restructuring
of its operations around the world.”

That’s in light of the changing nature of the De
Beers business model in its drive to improve efficiency and be a more
effective global company, she added.