Anglo American has announced the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for De Beers’ seventh sales cycle of 2017, amounting to $505 million.
De Beers’ sixth sales cycle of 2017 raked in $572 million in rough diamond sales. De Beers’ 5th cycle amounted to $530 million, while De Beers’ fourth sales cycle of 2017 amounted to to $520 million.
Bruce Cleaver, CEO of De Beers, said: “As expected, rough diamond sales were somewhat lower in the seventh cycle of the year, with some midstream demand having already been brought forward into Cycle 6 due to Diwali being earlier than normal in 2017. Businesses in the diamond industry’s midstream segment are adopting a watchful approach as attention now turns to the Hong Kong Jewellery & Gem Fair in mid-September”.
In July it was reported that De Beers produced 16.1 million carats in the first half of 2017, a 21% increase year-on-year. Revenue for the first half of the year declined 4% to $3.1 billion.
