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.