De Beers today reported that the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for the fourth sales cycle of 2016 stood at US$ 630 million, just a little below the US$ 666 million of actual sales during Cycle 3. While the figures for the fourth cycle are provisional (as of May 23, 2016), the figures of the third cycle have been restated in place of the provisional figure released earlier.

It may be recalled that in a release on April 12, De Beers had reported provisional sales for Cycle 3 (as on April 11, 2016) of US$ 660 million.

The company said that sales value is reported on a consolidated accounting basis. Auction Sales included in a given cycle are the sum of all sales between the end of the preceding cycle and the end of the noted cycle, it added.

Philippe Mellier, Chief Executive, De Beers Group, said: “As normal seasonal trends return to the market, we are encouraged by the continued stability of demand for rough diamonds shown in the fourth sales cycle of 2016.”

Pic: Courtesy De Beers