May 21, 2019

De Beers Cycle 4 2019 Sales Drop to US$415 Mn Amid An Uncertain Macroeconomic Scenario

De Beers Group  announcing the value of rough diamond sales (Global Sightholder Sales and Auctions) for the fourth sales cycle of 2019, said the figure for the period stood at US$415 million (provisional). This compares to actual sales of US$581 million for Cycle 3, 2019; and sales worth US$ 554 million notched in the same period of the previous year.

 Bruce Cleaver, CEO, De Beers Group, said: "Cycle four saw lower rough diamond sales against a backdrop of macroeconomic uncertainty, and as we enter a seasonally slower period for the industry with Indian factories closing temporarily for the traditional holiday period."