De Beers rough diamond sales for Cycle 2, 2016
The De Beers Group of Companies today announced the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for the second sales cycle of 2016.
|Cycle 2 2016 (provisional)1||Cycle 1 2016 (actual)2|
|Sales value3 ($m)||610||545|
Notes to this table are shown at the bottom of this page.
Rough diamond demand continues to show signs of improvement as excess inventory has continued to work through the system in recent months.
Philippe Mellier, Chief Executive, De Beers Group, said: “Retailer restocking after the end of year holiday season is supporting demand for polished diamonds and, in turn, we are seeing improved demand from the midstream for rough diamonds. However, we remain mindful of the need for a cautious approach as the recovery continues.”
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1 Cycle 2 2016 provisional sales value represents sales as at 29 February 2016.
2 Cycle 1 2016 actual sales value is restated following the earlier publication of a provisional figure for the first sales cycle of 2016.
3 Sales value is quoted in terms of sales by De Beers Global Sightholder Sales and De Beers Auction Sales, and reported on a consolidated accounting basis. Auction Sales included in a given cycle are the sum of all sales between the end of the preceding cycle and the end of the noted cycle.
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About The De Beers Group of Companies
De Beers is a member of the Anglo American group. Established in 1888, De Beers is the world’s leading diamond company with unrivalled expertise in the exploration, mining and marketing of diamonds. Together with its joint venture partners, De Beers employs more than 20,000 people (directly and as contractors) across the diamond pipeline, and is the world’s largest diamond producer by value, with mining operations in Botswana, Canada, Namibia and South Africa. As part of the company’s operating philosophy, the people of De Beers are committed to Living up to Diamonds by making a lasting contribution to the communities in which they live and work, and transforming natural resources into shared national wealth. For further information about De Beers visit www.debeersgroup.com.