Note ban, Trump and dollar key for diamond market: Nimesh Patel

De Beers has seen a significant improvement in business revenues and profits in 2016

De Beers, the world’s top diamond-mining group, now 85 per cent owned by Anglo American, has seen a significant improvement in business revenues and profits in 2016. Soon after announcing the De Beers group’s results for 2016, Nimesh Patel, De Beers’ group chief financial officer of Indian origin, spoke to Rajesh Bhayani on the prospects for 2017 and what the crucial issues that will determine improvement in the diamond business are. Edited excerpts:

Despite a fall in prices and production, sales and profits have seen significant improvements. Is it because the previous year’s inventories were sold in 2016? What are the