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Rio Says Rough-Diamond Prices to Extend Gains as Supplies Fall

Rough-diamond prices will extend gains through the next decade as dwindling production fails to meet rising demand from India and China, Rio Tinto Group said.

“We have seen a rapid recovery and prices are back to pre-crisis levels,” Harry Kenyon-Slaney, chief executive officer of diamonds and minerals at London-based Rio, said in an interview. “What we see going forward is a long decline in production and a significant growth in demand.”