De Beers’ 10th sales lower than the last  

SHARE   |   Monday, 18 December 2017   |   By Staff Writer

Rough diamond sales for De Beers’ tenth cycle have amounted to $450 million which is drop from the previous cycle when the company recorded $466 million. According to figures released by De Beers’ parent company – Anglo American – this week, the 2017 tenth cycle which is the last for the year is higher than the previous corresponding cycle when sales value amounted to $422 million. De Beers’ chief executive officer Bruce Cleaver said during the tenth cycle there was continuation of good demand for the company’s rough diamonds as the year heads towards the end. “Demand was broadly stable on the levels seen in Cycle 9, with sales slightly ahead of the equivalent period in 2016,” he said when commenting on the results.