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De Beers prospects dimmed as diamond market enters 'uncharted waters'

Changing trends in global diamond trading have affected prices at jewelry stores.

TOKYO -- Diamond prices have fallen to a five-year low as weakening economies in major emerging countries have pushed down demand.

     The downturn in the global diamond market has hammered miners, cutters, dealers and retailers alike, and the slump is now threatening the likes of De Beers and other major players who have historically maintained a stranglehold on the industry.

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