De Beers sitting on largest diamond inventory since 2008, FT reports
The diamond giant has faced multiple headwinds in recent years.
Canada’s Globe and Mail newspaper reports that BHP Billiton, 80%-owner of the Ekati mine in the Northwest Territories, will make a $400 million investment to expand the mine. The Australian mega-miner says its decision was based on higher diamond prices buoyed by healthy demand. Mining at the Misery deposit would start in late 2015 and last for two years.
