De Beers and Alrosa decided last week they saw enough signs of recovering demand and seized the opportunity, cutting some prices by almost 10%.

Zimbabwe’s second-largest diamond miner sees demand picking up.

The deal is necessary for the Debswana Mining Company, jointly held by De Beers and the Botswana government, as it provides the country with around two-thirds of its foreign exchange.

The world’s No. 1 producer is cutting prices for larger stones by almost 10% starting this week.

#morethanadiamond campaign aims to build a library and kitchen at Renaissance High School in Messina, South Africa.