19 Aug 2019
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De Beers Rough Diamond Sales at US$ 520 million for Cycle 3, 2018
The group’s rough diamond sales for third sales cycle fell by 11 per cent in 2018 on-year.
By: Diamond World News Service
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Apr 17 2018 4:30PM
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Reference: 16269  

DecreaseIncrease

De Beers Group has announced the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for the third sales cycle of 2018.

De Beers’ provisional sales of rough diamonds at the third sales cycle for 2018 amounted to US$520m which was 8 per cent down on the $563m reported for the second sight for 2018 and 11 per cent down on the $586m sold in comparable third sight for 2017.

  Cycle 3 2018 Provisional Cycle 2 2018 (actual)2 Cycle 3 2017 (actual)
Sales value3 ($m)  520 563 586

Notes to this table are shown at the bottom of this page.

Bruce Cleaver, CEO, De Beers Group, said: "While the second quarter of the year is traditionally a seasonally slower period, we continued to see good rough diamond demand in the third sales cycle of 2018 as diamond businesses have focused on restocking following healthy consumer demand for diamond jewellery in the U.S. and China."

- ends -

1 Cycle 3 2018 provisional sales value represents sales as at 16 April 2018.

2 Cycle 2 2018 actual sales value is restated following the earlier publication of a provisional figure for the second sales cycle of 2018.

3 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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