De Beers hits 370 million $ at eighth sales cycle of rough diamonds

Publié le mardi 17 octobre 2017, par

De Beers Group, with solid diamond assets in Africa, reported 370 million $ revenue of rough diamonds sales at the eighth sales cycle on16 October this year. The revenue is lower compared to 507 million $ achieved at the seventh sales cycle and 494 million $ for rough diamonds at the eighth sales cycle in 2016.

The world’s leading diamond company “offered fewer rough diamonds for sale in Cycle 8”, Bruce Cleaver, CEO of the group said. He explained this reflects 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.”he added.

De Beers Group is the world’s largest diamond producer by value, with mining operations in Botswana, Canada, Namibia and South Africa. Established in 1888, it is a member of the Anglo American plc group. Together with its joint venture partners, De Beers Group employs more than 20,000 people across the diamond pipeline.