The world’s largest diamond mining company, De Beers, has reportedly made the most significant price increase to its stones in years, according to one report.

While the company does not disclose price changes in its regular rough diamond sales, Bloomberg has reported that anonymous sources have confirmed that the price increase equates to around 5%.

This would make for the largest change to prices in almost a decade, according to Bloomberg‘s sources.

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This comes after De Beers applied a significant discount to its rough diamonds last autumn in a bid to reboot buyer interest.

It first cut the cost of stones over one carat in size, soon applying the same 10% discount to smaller diamonds too.

The tactic appeared to work, however, as the company revealed that its rough diamond sales were actually up on 2019 by the end of the year.

Read more on that below:

De Beers’ December rough diamond sales up on 2019 figures