De Beers’ 7th Sales Cycle Fetches $630 Million


Gaborone: De Beers sold $630 million of rough in its seventh sales cycle this year as diamond cutters increased their demand for stock ahead of the forthcoming holiday season.

Revenue grew from a revised $528 million in the previous cycle, the miner said. A year ago, sales stood at $358 million. The figure includes the latest De Beers sight held in Gaborone, Botswana, from August 29 to September 2, as well as auction sales and supply to beneficiation and government partners. De Beers holds 10 sights in a year.

De Beers CEO Bruce Cleaver said, “We saw healthy demand for our rough diamonds in Cycle 7, as manufacturers brought forward some of their demand in order to cut and polish rough diamonds in time for the important retail selling season.”