Diamond giant De Beers slashed the price of its lab-grown rocks by nearly 40%, citing their plummeting wholesale prices, the London-based company said Friday. The man-made gems, ...

De Beers produced 34.6 million carats in 2022 and its 2023 output is forecast in the 30 million to 33 million carat range. The company name of De Beers is displayed in Hong Kong, China September ...

Diamond giant De Beers slashed the price of its precious solitaires amid plunging sales as bargain-hunting fiancées increasingly opt for cheaper lab-grown gems. Among De Beers’ larger stones,… ...

De Beers’ Gresham factory employed 60 people when it opened in 2020. The company didn’t respond Friday to inquiries about how many people work there now and whether staffing levels will change.

De Beers has been hit by waning demand and slumping prices after global demand for diamond jewelry hit a high of $81 billion in 2014 and production soared, leaving the market flooded by 2015.

De Beers Group has amassed its biggest stockpile of diamonds since the 2008 financial crisis, laying bare the group’s challenge in reviving demand for jewels long seen as the pinnacle of luxury.

Botswana wants to maintain its partnership with De Beers and is confident that ongoing negotiations for a new diamond sales agreement will succeed, a government spokesperson said on Tuesday.

World’s biggest diamond miner De Beers has a lucrative niche, wading through waste rock to squeeze the remaining diamonds out of a South African deposit that started the company in 1888.