De Beers Group reported that the value of rough diamond sales (Sightholder Sales and Auctions) for the seventh sales cycle of 2019 was US$ 280 million, marginally above the US$ 250 million sold in the previous cycle a month earlier, but a significant 44% below the US$ 503 million of sales during Cycle 7 of 2018.

Bruce Cleaver, CEO, De Beers Group, said: “With midstream participants continuing to work down polished diamond inventory levels and reduced levels of manufacturing in the key cutting centres, De Beers Group provided customers with further supply flexibility during the seventh cycle of 2019.”