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De Beers fifth sightholder sale rakes in $575 mln

26 june 2018
Anglo American said De Beers' fifth sightholder sale of the year raked in $575 million, an increase of 3.7 percent compared with the previous cycle’s $554 million.

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Image credit: De Beers Group


Although the fifth sales cycle earnings were provisional they also leaped 6 percent against $541 million that De Beers realised during the same period, a year earlier.
"Sentiment in the diamond industry's midstream is positive following the JCK Las Vegas trade show at the start of the month and we continued to see good demand for our rough diamonds across the product range," said De Beers chief executive Bruce Cleaver.
Bloomberg reported last month that De Beers had allegedly increased rough diamond prices by about 1 percent at the fourth sight amid a record demand.
The diamond group’s two previous sights had also registered gains of 1 percent to 2 percent.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished