DIAMOND giant De Beers said on Thursday that sales of rough diamonds through its Diamond Trading Company slumped 255% in the first half of 2001 to $2,62-billion. The group blamed the slowdown in the global economy for sluggish demand for polished diamonds, particularly in the United States, which had a knock-on impact on rough diamond demand. “The first six months have been difficult for the diamond industry with prices under pressure, liquidity tight and profitability eroded,” the group said in a statement received here. “The rough diamond market remains depressed. “Any improvement will depend on the pace and extent of a recovery in economic growth, the relative strength of the US dollar against other diamond consumer market currencies and, more immediately, on the level of consumer demand for diamond jewellery over the important Christmas season,” it said. The slack figures meant that net income at De Beers Investments fell 32% to $480-million, while headline earnings fell 15,2% to $744-million. The latter figure includes De Beers’ share of mining giant Anglo American’s headline profit for the six months to 31 December 2000. – AFP