By ABC Online
The new owner of the Northern Territory’s only diamond mine says demand for the gem has started to improve, after dropping significantly during the global financial crisis.
It’s estimated there are about four and a half million carats at the Merlin mine, near Borroloola, in the centre of the mainland Australia.
Owner Joseph Gutnick, from Legend International Holdings, says the general diamond price dropped by 30 per cent because people wanted cheaper diamonds.
He says there’s still a long way to go, despite a slight improvement in demand in August.
“People don’t spend money on diamonds, or they spend less money,” he says.
“They were going to buy two-carat diamonds in good times, they buy one-carat diamonds now.
“But they always buy diamonds. It’s a girl’s best friend.”
sage words
It’s Rabbi J Gutnick – not just J Gutnick
Just be careful, and don’t say I didn’t warn you!
This year there will be diamonds as large as ice cubes found in an ice bucket
The Rebbe had bentched R’ Gutnick to find “avonim tovos” [see Hakdosha in early Toras Menachem volumes],
(and when his hatzlocha following was in the gold, talk was that how much more successful he’d be with diamonds, as per the Rebbe’s brocha!).
IY”H everything should be m’kuyem b’miluyo, befitting this great benefactor of Hafotza and support for the Rebbe’s mosdos worldwide!