19 Sep 2018
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De Beers’ rough diamond sales drops to 5.5% during 7th Cycle of 2018
De Beers sold rough diamonds worth a provisional US$505 million in the seventh sales cycle of 2018.
By: Diamond World News Service
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Sep 12 2018 10:40AM
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Reference: 16644  

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The value of De Beers’ rough diamond sales dropped to 5.5 per cent from the previous cycle's $533 million and was slightly lower than the $507 million made in the seventh cycle of 2017.

Bruce Cleaver, CEO, De Beers Group, said: "De Beers Group provided Sightholders with the opportunity to re-phase the allocation of some smaller, lower value rough diamonds. Demand remains stable ahead of the September Hong Kong Jewellery & Gem Fair."

Notes

  • Cycle 7 2018 provisional sales value represents sales as at 10 September 2018.
  • Cycle 6 2018 actual sales value is restated following the earlier publication of a provisional figure for the sixth sales cycle of 2018.
  • Sales values are quoted on a consolidated accounting basis and are before capitalisation of pre-commercial production revenues at Gahcho Kué. 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.

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