De Beers First-Half Sales Fall 26 Percent

Gaborone: De Beers—which became the star unit of parent company Anglo American following soaring sales in 2014—reported a 26 percent drop in sales in carat terms for the first six months of this year.

The company sold 14 million carats in the first half of 2015, compared to 16 million in 2014. De Beers’ rough prices also fell 4 percent from the first half of last year, though the company’s realized selling price rose 7 percent to $206 a carat, due to a higher quality product mix, said an Anglo statement.

The drop was caused by “relatively low levels of restocking by the midstream in 2015, in contrast with particularly strong sales conditions in the first half of 2014,” the statement said.

Its diamond production decreased by 6 percent to 8 million carats, mainly due to lower grades and reduced plant availability at the Orapa mine in Botswana.