Comment by mlmonkey
13 hours ago
I heard once that even if DeBeers stopped all diamond mining activity, their existing stockpile would last for a 100 years or more.
13 hours ago
I heard once that even if DeBeers stopped all diamond mining activity, their existing stockpile would last for a 100 years or more.
It would probably last 1,000 years, now.
Since nobody wants to buy them anymore.
And, any person who has ethics should never purchase these diamond, they are literally tainted with blood.
That’s not even close to being true.
You both need to provide citations my dudes.
The first person hedged their statement with "I heard once" so it's likely true regardless of whether the rest is accurate.
In a similar vein it has been said (by me, just now) that DeBeers is actually already out of diamonds and manufactures then de novo from the compressed ashes of orphans.
6 replies →
AI coughed up a bunch of references that put their stockpile estimate at around a year. Might have been more at one time but nothing close to 100.
I'll provide a citation since I'm in this industry and watch it closely.
De Beers currently has about 2 billion worth of diamond stock in its holds. This equates to about... 5-6 months of sales volume. It used to be worth more but lab-grown and other re-valuing initiatives have dropped the worth of their hoard.