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Gold/Mining/Energy : SOUTHERNERA (t.SUF) -- Ignore unavailable to you. Want to Upgrade?

To: Peter Bourgeois who wrote (4298)	8/12/1999 8:45:00 AM
From: PHILLIP FLOTOW	Read Replies (1) \| Respond to of 7235

Here is another story about DeBeers, edited for duplication and relevance: JOHANNESBURG (Dow Jones)--The outlook for rough, or uncut diamond sales for the second half of the year is promising, South Africa's De Beers Consolidated Mines Ltd. (DBRSY), the world's biggest diamond producer and distributor, said Wednesday. De Beers said sales by the Central Selling Organization, its marketing arm, were up 44% on the period a year earlier as the market recovered from the damage inflicting on demand from the Asian economic crisis. "At retail level the industry continues to be heavily reliant on the American market. There are signs of recovery in the South East Asian markets, albeit from a low base," said De Beers. Japan still remained a problem, however. Consumer confidence was fragile, but De Beers had seen evidence of restocking and an increase in imports of polished diamonds during the half year. Japanese retail sales in dollar terms had lifted 8% on the same period a year ago, while the Asia-Pacific region as a whole had moved ahead 15%, displaying a more robust recovery. If the Middle East was included in the Asia figures, the growth had only been 2%, said the company. The U.S. market remained the premier engine of growth in diamond sales, increasing 7% on the 1988 figures. Underscoring the importance of the U.S. to De Beers, is the country's 46% slice of world diamond consumption, compared to Asia-Pacific's 10% and Japan's 18%. Europe consumes about 12% of the world's diamonds. The millennium was also providing a lift to diamond sales, said De Beers' Managing Director, Gary Ralfe. Promotional activities centered on this will provide a boost to retail jewelry consumption from the fourth quarter of 1999 and throughout 2000, said Ralfe. -By Andi Spicer; +27-11-726-7903; andi.spicer@dowjones.com PHIL