De Beers Diamond Sourcing

DE BEERS RAKES IN $580 MILLION FROM 3RD SALES CYCLE

Anglo American has announced that De Beers has sold rough diamonds worth $580 million in the company’s third sales cycle of 2017. De Beers sold $729 million during the first sales cycle, and $553 million during the second cycle of 2017.

 

Bruce Cleaver, CEO of De Beers, said: “We saw the continuation of good rough diamond demand in Cycle 3 across the product range. This reflected positive sentiment from our customers following the Hong Kong International Jewellery Show in March”.

 

In March, Cleaver said in Anglo American’s annual report for 2016 that “macroeconomic conditions underpinning consumer demand for diamonds remain broadly stable in aggregate, with the U.S expected to continue to be the main driver of global growth in 2017”.

 

“Rough diamond demand is expected to normalise in 2017, reflecting underlying consumer and retail demand”, he added. “While producers continue destocking, forecast diamond production (by De Beers) for 2017 is expected to be in the range of 31-33 million carats, subject to trading conditions”.

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