DE BEERS ROUGH DIAMOND SALES FOR CYCLE 8, 2016
The De Beers Group of Companies today announced the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for the eighth sales cycle of 2016.
|Cycle 8 2016 (provisional)1||Cycle 7 2016 (actual)2|
|Sales value3 ($m)||485||639|
Notes to this table are shown at the bottom of this page.
Bruce Cleaver, CEO, De Beers Group, said: “Demand for De Beers’ rough diamonds in Cycle 8 continued to reflect the improved midstream trading environment compared with 2015. Our rough diamond sales were slightly ahead of expectation during the Cycle, given the normal seasonal demand patterns, the shorter than usual period between Sights 7 and 8, and the forthcoming holidays in some of the major diamond cutting centres.”
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1 Cycle 8 2016 provisional sales value represents sales as at 3 October 2016
2 Cycle 7 2016 actual sales value is restated following the earlier publication of a provisional figure for the seventh 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.