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De Beers rakes in $485m from diamond sales

4th October 2016

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

  

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JOHANNESBURG (miningweekly.com) – Diamond producer De Beers has raised $485-million from its eighth sales cycle during the year.

CEO Bruce Cleaver said on Tuesday that the demand for its rough diamonds continued to reflect the improved midstream trading environment compared with 2015.

“Our rough diamond sales were slightly ahead of expectation during the cycle, given the normal seasonal demand patterns, the shorter-than-usual period between sights 7 and 8, and the forthcoming holidays in some of the major diamond cutting centres,” he noted.

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Edited by Samantha Herbst
Creamer Media Deputy Editor

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