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Cleaver: Economic Uncertainty Reason For $415M De Beers Cycle 4 Sales

De Beers today reported that it had provisionally sold $415 million worth of rough in its fourth sales cycle of this year. This is 33.5 percent below the $554 million actually sold in the fourth sales cycle of 2018. 

De Beers CEO Bruce Cleaver said, "Cycle Four saw lower rough diamond sales against a backdrop of macroeconomic uncertainty, and as we enter a seasonally slower period for the industry with Indian factories closing temporarily for the traditional holiday period.”

The company also said that the actual sales figures for Cycle Three this year now stand at $581 million.

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