Anglo American CEO: Diamond Industry Misjudged Lab-Grown Gem Threat
UKPulse Markets Desk
Anglo American's CEO stated that the diamond industry misjudged the threat posed by lab-grown gems, leading to a reduced valuation for De Beers and lower rough stone prices.
- The diamond industry misjudged the threat of lab-grown gems, according to Anglo American's CEO.
- De Beers' valuation has been slashed by its owner, Anglo American.
- Far lower prices for rough stones have been reported.
The chief executive of Anglo American has stated that the diamond industry misjudged the threat posed by lab-grown gems. This assessment comes as De Beers, owned by Anglo American, has seen its company valuation slashed.
The owner of De Beers has also reported significantly lower prices for rough stones.