The De Beers Group of Companies announced today that the value of its rough diamond sales (Global Sightholder Sales and Auction Sales) for the third sales cycle of 2016 amounted to US$ 660 million (provisional).  This marks an almost 7% increase over the sales of Cycle 2, which were valued at US$ 617 million (actual).

The Company attributed this to “Continued stability in polished diamond prices and sales of polished diamonds at the wholesale level supported a reasonably positive environment for rough diamond demand for the third consecutive sales cycle.”

Philippe Mellier, Chief Executive, De Beers Group, said: “So far, 2016 has seen significantly stronger rough diamond demand than that experienced at the end of 2015 as the actions taken by the industry continue to have a positive effect.

“However, we are now moving into a part of the year where rough diamond demand has historically been lower as a result of seasonality, so we continue to adopt a prudent mind-set.”