17 Nov 2019
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De Beers May sales slips by 25%
De Beers saw proceeds from rough diamond sales fall in its fourth sales cycle for the year
By: Diamond World News Service
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May 22 2019 11:27AM
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Reference: 20236  

DecreaseIncrease

De Beers raised a provisional US$415 million during the cycle, down from $554 million a year ago and from the previous cycle's $581 million.
 
Bruce Cleaver, CEO, De Beers Group, said: "Cycle four saw lower rough diamond sales against a backdrop of
macroeconomic uncertainty, and as we enter a seasonally slower period for the industry with Indian factories
closing temporarily for the traditional holiday period.”

High rough prices has made decreased the demand for diamond roughs - polished prices are not lucrative with such skyrocketing rough prices. 


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