Rio Says Diamonds to Extend Gains as Dwindling Supply Fails to Meet Demand

Rio Tinto Group reported that rough-diamond prices will extend gains through the next decade as dwindling production fails to meet rising demand from India and China.

The press release is quoted as saying:

Global production fell to 161.1 million carats in 2008 from 176 million in 2005, RBC said. Output in Botswana, the biggest source of the gems, declined for three straight years, while production in Australia dropped by more than half over the period, it said

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