Economy

De Beers reports ‘good demand’ in ninth sales cycle

The De Beers Group of Companies has reported ‘continued good demand’ for rough diamonds for the ninth sales cycle of the year.

Provisional sales for the company’s ninth sales cycle of 2016 stood at $470m (£378m). This was down from the $494m (£398m) raised in De Beers’ eighth sales cycle, but De Beers said this was in line with expected seasonal demands.

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Bruce Cleaver, CEO, said: “Encouragingly, the ninth sales cycle of 2016 showed continued good demand for De Beers rough diamonds, with sales in line with expected seasonal demand patterns.”

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