De Beers clocks US$ 660 million in its third Sight of 2016

The De Beers Group of Companies announced the value of its rough diamond sales (Global Sightholder Sales and Auction Sales) for the third sales cycle of 2016. The said value stood at US$ 660 million (provisional).

The value of its Cycle 2 of the said rough diamond sales stood at an actual figure of US$ 617 million.

Continued stability in polished diamond prices and sales of polished diamonds at the wholesale level supported a reasonably positive environment for rough diamond demand for the third consecutive sales cycle, as per the company.

Philippe Mellier, Chief Executive, De Beers Group, said: “So far, 2016 has seen significantly stronger rough diamond demand than that experienced at the end of 2015 as the actions taken by the industry continue to have a positive effect. However, we are now moving into a part of the year where rough diamond demand has historically been lower as a result of seasonality, so we continue to adopt a prudent mind-set.”