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De Beers $555M Cycle 2 Sales In Line With Expectations, Says Cleaver

Bruce Cleaver

De Beers announced that it had provisionally sold rough diamonds worth $555 million in its second sales cycle of 2018. This is marginally higher than the $553 million sold in the Cycle 2 of 2017. The miner also said that its actual sales figures for Cycle 1 this year now stand at $672 million as against the provisional figure of $665 million put out earlier.

De Beers CEO Bruce Cleaver 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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