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SPARKLING CURTAIN OPENING

14th November 2014

By: Darlene Creamer

  

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For a hundred and plenty years, price opacity has reigned in the diamond industry, with live spot prices being conspicuous by their absence and diamond major De Beers refusing to disclose its selling prices. Now, as the Internet forces more transparency on the industry and Anglo American becomes anxious for investors to see the worth of its diamond nit, Anglo CEO Mark Cutifani has started to draw back the curtain. Diamond mining analysts have already begun applauding, which may induce Alrosa, the biggest producer by volume, to be more transparent as well. If those two take the lead, the world is bound to be given increasingly valuable insight into a sector that is providing a fifth of Anglo’s revenue and a quarter of its earnings.

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