Anglo American has announced the value of rough diamond sales for De Beers’ eighth sales cycle of 2017, amounting to $370 million.
Bruce Cleaver, CEO of De Beers, said: “De Beers offered fewer rough diamonds for sale in Cycle 8, reflecting the concurrent timing this year of the Sight sale with the closure of polishing factories in India and Israel for the observance of religious holidays. Sales were in line with expectations, at what is a seasonally slower time for rough diamond demand”.
De Beers’ seventh sales cycle of 2017 amounted to $505 million. The sixth sales cycle of 2017 raked in $572 million in rough diamond sales. 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.
