The De Beers Group of Companies said the value of its rough diamond sales for the ninth sales cycle of 2016 reached US$470 million, which the company said conforms to its expectations.
The group reported US$494 million in rough diamond sales during the previous cycle.
Bruce Cleaver, CEO of the De Beers Group, commented, “Encouragingly, the ninth sales cycle of 2016 showed continued good demand for De Beers rough diamonds, with sales in line with expected seasonal demand patterns.”
The Cycle 9 2016 provisional sales value represented sales as at November 14, 2016. The figure consisted of Global Sightholder Sales and Auction Sales.
Sales values are quoted on a consolidated accounting basis, according to De Beers. 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, it added.