THURSDAY, 11.00AM
INTERNATIONAL diamond cartel De Beers on Wednesday failed to secure the purchase of diamonds from the Democratic Republic of Congo’s Miba mine, after being outbid at an auction by Belgian company Susskind.
De Beers has been the sole purchaser of Miba’s diamonds for more than a decade. According to Maurice Nabahola, adviser to DRC’s mines minister, Susskind outbid De Beers and the International Diamond Company. Miba’s recent production has hovered around 540 000 carats.