The De Beers Group’s value of rough diamond sales (Global Sightholder Sales and Auction Sales) for the third sales cycle of 2017 amounted to US$ 580 million (provisional), the Company announced yesterday.

Though marginally higher than the last  cycle for which sales totalled US$ 553 million (actual), Cycle 3, 2017 sales were  lower by almost 13%  y-o-y (Cycle 3 2016 (actual): US$ 666 million).

 Bruce Cleaver, CEO, De Beers Group, 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.”