Market News

De Beers rakes in $580m from third sales cycle

2017-4-6

De Beers has realised $580 million from the third rough diamonds sales cycle compared with $666 million accrued, a year earlier. 
Although the figure was provisional, the latest sales cycle was an improvement from $553 million recorded during the second sales cycle for the year. 
"We saw the continuation of good rough diamond demand in Cycle 3 across the product range,” said De Beers chief executive Bruce Cleaver. 
“This reflected positive sentiment from our customers following the Hong Kong International Jewellery Show in March.” 
De Beers opened the year with strength as it raked in $729 million during the first sales cycle for the year with the group having recorded “good” demand across the majority of its assortment, as the industry entered the period when rough diamond demand was traditionally strongest. 
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished

 


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