De Beers announces rough diamond demand is strong for second cycle in 2018

Sales increased by a total of £1m compared with the same period last year

De Beers has released data on its second cycle of rough diamond sales for 2018, with revenues provisionally secured at £399m.

The world’s leading diamond company with expertise in the exploration, mining and marketing of diamonds announced the provisional figure of sales from its rough diamonds mined from operations in Botswana, Canada, Namibia and South Africa.

Despite the figure being a drop from the first cycle of 2018 valued at £483m, the total is actually an increase of £1m compared with the same period last year.

Bruce Cleaver, CEO, De Beers Group, said: “The second sales cycle of the year saw the continuation of good rough diamond demand. This was in line with expectations, following strong retail sales of diamond jewellery during the US holiday season and positive early signs for consumer demand over Chinese New Year.”

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Lewis Catchpole

Lewis is a multimedia journalist and a alumnus of the University of Sheffield. He is a keen reader, follower of all sports and an avid supporter of Manchester United, for better or for worse. If you have any news or feature ideas please do not hesitate to contact.

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