The De Beers Group of Companies announced the value of rough diamond sales (global sightholder sales and auction sales) for the eighth sales cycle on 4 October 2016. Eighth cycle provisional sales value was US$485 million, compared to actual sales value of US$639 million in the previous cycle.
Bruce Cleaver, CEO of De Beers Group, said: “Demand for De Beers’ rough diamonds in cycle 8 continued to reflect the improved midstream trading environment compared with 2015. Our rough diamond sales were slightly ahead of expectation during the cycle, given the normal seasonal demand patterns, the shorter than usual period between sights 7 and 8, and the forthcoming holidays in some of the major diamond cutting centres.”
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