Jun 21, 2017

De Beers Sells US$ 530 Million of Rough in 5th Sales Cycle of 2017

De Beers Group announced that it sold rough diamonds valued at US$ 530 million during the fifth sales cycle of 2017. This includes both Global Sightholder Sales and Auction Sales, the miner said.

In a statement released yesterday, De Beers reported that the final sales value during the 4th cycle was US$ 522 million.

The Company said that the 5th Cycle sales represent the figures as at June 19 and are quoted on a consolidated accounting basis and are before capitalisation of pre-commercial production revenues at Gahcho Kué. It added that Auction Sales included in the cycle are the sum of all sales between the end of the preceding cycle and the end of the noted cycle.

Sales for the 5th cycle are down by about 6% year-on-year as compared to the US$ 564 million reported in Cycle 5 last year.

De Beers CEO Bruce Cleaver said, “Following positive feedback from the Las Vegas trade show, and in line with recent trends, we saw continued good demand for De Beers rough diamonds in the fifth sales cycle of the year.”