De Beers Rough Diamond Sales Rise in Cycle 7

Rough Market
14/11/2017 11:29

Anglo American’s De Beers’ rough diamond sales for the 9th cycle saw a 21% increase from the previous cycle, which CEO Bruce Cleaver says is due to “an uptick in demand from our customers as retail orders increase ahead of the Christmas season.”

De Beer’s provisional sales value, representing sales till November 13, was $455 million. Cycle 8 was a seasonally quieter period, which as expected, reached $376 million. For the last cycle the miner offered fewer diamonds for sale due to the concurrent timing of the sight and the closing of polishing factories for Diwali and Jewish holidays.

The figure for sales cycle 9 was lower than on a year-on-year basis with sales hitting $476 million in 2016.