De Beers records lower sales amid macroeconomic uncertainty
The value of De Beers’ rough diamond sales for the fourth cycle of this year fell year-on-year “against a backdrop of macroeconomic uncertainty”, CEO Bruce Cleaver said on Tuesday.
Sales decreased to $415-million, compared with $554-million in the fourth sales cycle of 2018.
This was also lower than the sales of $581-million recorded for the third sales cycle of this year.
Cleaver pointed out that the diamond industry was entering a “seasonally slower period” as Indian factories close for a traditional holiday period.
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