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De Beers earns $520m in third sales cycle

De Beers CEO Bruce Cleaver

De Beers CEO Bruce Cleaver

17th April 2018

By: Marleny Arnoldi

Deputy Editor Online

     

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JOHANNESBURG (miningweekly.com) – Diamond miner De Beers’ global sightholder and auction sales earned the company $520-million in the third sales cycle of this year.

This is lower than the $563-million earned in the second sales cycle of this year, as well as the $586-million earned in the third sales cycle of 2017.

De Beers CEO Bruce Cleaver said that while the second quarter of the year is traditionally a seasonally slower period, the company continued to see good rough diamond demand in the third sales cycle of this year, as diamond businesses have focused on restocking following healthy consumer demand for diamond jewellery in the US and China.

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Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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