De Beers rough diamond sales for cycle 8

De Beers

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

Cycle 8 2017 (provisional)1 Cycle 7 2017 (actual)2 Cycle 8 2016 (actual)
Sales value3 ($m)  370 507 494

Bruce Cleaver, CEO, De Beers Group, said: “De Beers offered fewer rough diamonds for sale in Cycle 8, reflecting the concurrent timing this year of the Sight sale with the closure of polishing factories in India and Israel for the observance of religious holidays. Sales were in line with expectations, at what is a seasonally slower time for rough diamond demand.”

Source De Beers

1 Cycle 8 2017 provisional sales value represents sales as at 16 October 2017.

2 Cycle 7 2017 actual sales value is restated following the earlier publication of a provisional figure for the seventh sales cycle of 2017.

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.