De Beers’ rough diamond sales for Cycle 5 totalled US$560 million

The De Beers Group of Companies today announced the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for the fifth sales cycle of 2016.

The rough diamond sales (Global Sightholder Sales and Auction Sales), which totalled US$560 million, compared with US$636 million in cycle 4.

Commenting on the sales Philippe Mellier, Chief Executive, De Beers Group, said: “Sales in the fifth cycle of the year were somewhat lower than in the fourth cycle, in line with our expectations and typical seasonal demand patterns. Rough diamond demand and polished diamond prices remain stable, reflecting steady consumer demand, but we maintain a cautious outlook.”

Notes:

• Cycle 5 2016 provisional sales value represents sales as at 27 June 2016.

• The Cycle 4 2016 actual sales value is restated following the earlier publication of a provisional figure for the fourth sales cycle of 2016.

• Sales value is quoted in terms of sales by De Beers Global Sightholder Sales and De Beers Auction Sales, and reported on a consolidated accounting basis. 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.