 "Craftsman work at a diamond processing unit")
Global diamond output is likely to decline in calendar year 2018 due to suspension of excavation in mines by leading producers. De Beers Group’s latest Diamond Insight Report, released on Thursday, said that Alrosa-owned Mir mine suspended operations this year.
"However, businesses in this sector will need to continue adapting to the evolving landscape,” said the report. De Beers, however, hoped that purchases made by Millennials and Gen Z generations accounted for two-thirds of global diamond jewellery sales in 2017, as demand in the segment reached a new record high of $82 billion. Millennials are consumers between 21 and
