Buyers Scarce, Diamond Mining Industry Faces Bigger Issue

Reuters reported that Rio Tinto’s inability to sell its diamond mines are indicators of a bigger issue in the industry with the world’s biggest miners tackling debts and carving out billions of dollars worth of assets without much success.

As quoted in the market news:

There is a missing buyer universe. The mid-caps got consumed in the last deal boom and the juniors can’t get finance,” one senior industry adviser said.

Click here to read the full Reuters report.