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Year-Over-Year Sales Up Slightly for De Beers
The diamond miner and marketer sold $450 million in rough in its final sales cycle of the year, compared with $422 million in the same period last year.
De Beers reported rough diamond sales of $450 million in its 10th and final sales cycle of the year, a nearly 7 percent increase over the same period last year.
Gaborone, Botswana--De Beers finished the year on a slightly stronger note with sales ahead of the same period last year.
On Tuesday, the diamond miner and marketer reported that rough diamond sales totaled $450 million in its 10th and final sales cycle of the year, up from $422 million in the same period last year.
The total includes rough diamonds sold to sightholders as well as those sold through the company’s auction platform.
CEO Bruce Cleaver said in a company release: “The 10th sales cycle of the year saw the continuation of good demand for De Beers rough diamonds as we head toward the end of 2017. Demand was broadly stable on the levels seen in cycle nine, with sales slightly ahead of the equivalent period in 2016.”
The company also revised its figure for the ninth sales cycle of the year upward, from the provisional figure of $455 million reported last month to $466 million.
Here is a table showing year-over-year comparisons for De Beers’s rough diamond sales through the 10th and final sales cycle of 2017.
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