Diamonds May Be Forever, But Not DeBeers

The Australian’s John Arlidge wrote that times are tough for diamonds and the people who dig them.

The editorial states:

De Beers has been so hard hit by the recession that it almost went bust. The Oppenheimers have had to come up with £370 million personally to save the family firm, as part of a £620m rights issue. In recent months, Anglo American, the mining giant, has begun weighing up a plan to take control of the company, buying out the Oppenheimers.

To read the full editorial, click here.