De Beers is sitting on a $2 billion pile of diamonds as demand slumps — 'It's been a bad year'

(Credit: Lam Yik—Bloomberg via Getty Images)

• Diamond giant De Beers has seen its stockpile reach $2 billion, the biggest since the 2008 financial crisis, according to the Financial Times. "It’s been a bad year for rough diamond sales."

Waning demand for natural diamonds has helped lift De Beers's inventory to $2 billion, the most since the 2008 financial crash, according to the Financial Times.