Rapaport Calls For Mellier To Step Down and De Beers to Slash Output/Sales

Market Analysis
27/11/2015 07:49

Martin Rapaport is calling for the resignation of De Beers CEO Philippe Mellier, that he expects De Beers' second half rough diamond sales to be down by at least 60 percent and calls for De Beers to reduce rough prices by 30-50% to inject profits and liquidity into the trade. "Please note that we do not expect polished prices to decline due to a fall in rough diamond prices. Increased trade profits and liquidity will support polished diamond prices and expand demand as downstream distributors invest in marketing and sales."