De Beers rough diamond sales decrease by 25%

Rough diamond sales at De Beers for the first cycle fell by 25 per cent indicating a decreasing demand for smaller stones. The company reported that rough sales have decreased to $505 million (R6.87 billion), down from $672m a year earlier. 

Sales from the 10th cylce for 2018 was reported as $544m.

Bruce Cleaver, CEO, De Beers Group, said: “Rough diamond sales during the first sales cycle of 2019 were lower than those for the equivalent period last year, reflecting higher than normal sales in the previous cycle (cycle 10 2018) and the slow movement of lower value rough diamonds through the pipeline.”