Diamond Dealers Heading to Botswana for Large Gems

The Wall Street Journal reported that “dozens of diamond dealers” are rushing to Botswana to buy large diamonds, some of which will ultimately end up not as jewelry, but as investment portfolio components.

As quoted in the market news:

[D]iamond traders say demand for big stones is on the rise from wealthy individuals drawn to the discreet exclusivity of a pocket-size asset with a seven-figure value. To fill orders for clients (which none was willing to name), they are turning to Botswana, where Vancouver-based Lucara Diamond Corp. and other miners are turning out large stones with increasing frequency.

‘The top end of the market is evolving,’ said William Lamb, Lucara’s chief executive. ‘Suddenly, there are more stones available.’

Click here to read the full report from The Wall Street Journal.