De Beers 2005 diamond sales climb on record output

The worlds top diamond producer, De Beers, met market expectations with a 15 percent rise in 2005 rough diamond sales reaching $6.54 billion on record output

Five analysts forecast that 2005 rough diamond sales would reach $6.5 billion on demand from China, India, the Middle East and improved sales in Japan, the contribution to Anglo will be at $440 million

Output for the year, including joint ventures in Namibia and Botswana, was 49 million carats, an increase of 4 percent over 2004. That was a new record for the group, but still below the growth of 7 to 8 percent it had estimated. "There was over-optimism on the part of De Beers with the 7-8 percent forecast," De Beers outgoing Managing Director, Gary Ralfe, told a conference call on Friday