Picture of De Beers diamond safe - to raise prices

[Garry H (Cut Nut)]

Since I finally understood De Beers 'Cartel' model after the 1997 Asian financial melt down (Some say they got Soros'ed).
This story has a picture of one of De Beers safes.
I find it amusing that this cartel story has lasted for so very long. So those of you who believe the socialist journalists (and now LGD mantra) - have a look at the picture of where De Beers stores their excess diamonds:

Diamonds.net - De Beers Trims Production Plan for Coming Years

RAPAPORT... De Beers has reduced its production plan for the next two years, aiming to avoid releasing too much rough into the market as the diamond sector attempts to exit the crisis that dominated 2020.The miner expects to unearth 33 million to 35 million carats in 2021, down from its...

www.diamonds.net

De Beers has reduced its production plan for the next two years, aiming to avoid releasing too much rough into the market as the diamond sector attempts to exit the crisis that dominated 2020.

 

[Karl_K]

Just be that much sooner mmd takes over.

 

[Garry H (Cut Nut)]

They will need to clean up thier act first

 

[OoohShiny]

That is a big hole!

 

[Garry H (Cut Nut)]

They will need to clean up their act first

Actually, no, its a tiny hole. I have been and watched gold mines in Kalgoorlie and Mount Tom Price Iron ore mines during blasting.
It is quite safe because the mines are miles and miles across.

And Karl - I keep hearing the most horrific stories about the deceit of man made diamond companies wind, hydro and solar energy claims. When infact they are powered by coal mines. You could fit the entire worlds diamond mines inside a larger single coal mine.

 

[Karl_K]

And Karl - I keep hearing the most horrific stories about the deceit of man made diamond companies wind, hydro and solar energy claims. When infact they are powered by coal mines. You could fit the entire worlds diamond mines inside a larger single coal mine.

Apple and Google do the same thing its called an offset,
They use what ever power is available but the power company that month promises to buy that amount of energy from greener sources even if 100% of the power they actually use comes from coal or in the US these days natural gas.
Its a gimmick for sure but technicaly they do buy that amound of power from greener sources it just might not be the power they actualy use.

 

[Garry H (Cut Nut)]

Apple and Google do the same thing its called an offset,
They use what ever power is available but the power company that month promises to buy that amount of energy from greener sources even if 100% of the power they actually use comes from coal or in the US these days natural gas.
Its a gimmick for sure but technicaly they do buy that amound of power from greener sources it just might not be the power they actualy use.

Try that in India and China when you claim to be growing diamonds in other countries.

 

[Karl_K]

Try that in India and China when you claim to be growing diamonds in other countries.

It's available in China in some areas.
It is likely available in parts of India also.
"India is one of the countries with large production of energy from renewable sources. As of 27 November 2020, 38% of India's installed electricity generation capacity is from renewable sources (136 GW out of 373 GW). "

Renewable energy in India - Wikipedia

en.wikipedia.org

It is starting to be a bigger consideration for locations for outsourcing so they are spending a lot of money on it.

So the reality is the producers may be within what is considered green energy in either country.

 

[Garry H (Cut Nut)]

It's available in China in some areas.
It is likely available in parts of India also.
"India is one of the countries with large production of energy from renewable sources. As of 27 November 2020, 38% of India's installed electricity generation capacity is from renewable sources (136 GW out of 373 GW). "

Renewable energy in India - Wikipedia

en.wikipedia.org

It is starting to be a bigger consideration for locations for outsourcing so they are spending a lot of money on it.

So the reality is the producers may be within what is considered green energy in either country.

India 55.43% coal, plus gas, plus diesel.
China 66% coal