De Beers rough diamond sales for cycle 7

De Beers

De Beers Group today announced the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for the seventh sales cycle of 2017.

Cycle 7 2017 (provisional)1 Cycle 6 2017 (actual)2 Cycle 7 2016 (actual)
Sales value3 ($m)  505 576 639

Bruce Cleaver, CEO, De Beers Group, said: “As expected, rough diamond sales were somewhat lower in the seventh cycle of the year, with some midstream demand having already been brought forward into Cycle 6 due to Diwali being earlier than normal in 2017.

Businesses in the diamond industry’s midstream segment are adopting a watchful approach as attention now turns to the Hong Kong Jewellery & Gem Fair in mid-September.

Source De Beers

1 Cycle 7 2017 provisional sales value represents sales as at 4 September 2017.

2 Cycle 6 2017 actual sales value is restated following the earlier publication of a provisional figure for the sixth sales cycle of 2016.

3 Sales values are quoted on a consolidated accounting basis and are before capitalisation of pre-commercial production revenues at Gahcho Kué. 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.