Anglo American rough diamond sales value for De Beers’ second sales cycle of 2016
01 March, 2016
Anglo American plc announces the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for De Beers’ second sales cycle of 2016. Rough diamond sales during the second cycle of the year continued their positive trend to $610 million, compared with the $545 million value of the first sales cycle of 2016.
| Cycle 2 2016(1) (provisional) |
Cycle 1 2016(2) (actual) |
|
|---|---|---|
| Sales value(3) | $610m | $545m |
(1) Cycle 2 2016 provisional sales value represents sales as at 29 February 2016.
(2) Cycle 1 2016 actual sales value is restated following the earlier publication of a provisional figure for the first sales cycle of 2016.
(3) Sales value is quoted in terms of sales by De Beers Global Sightholder Sales and De Beers Auction Sales, and reported on a consolidated accounting basis. Auction Sales included in a given cycle are the sum of all sales between the end of the preceding cycle and the end of the noted cycle.
Rough diamond demand continues to show signs of improvement as excess inventory has continued to work through the system in recent months.
Philippe Mellier, Chief Executive of De Beers Group, said: “Retailer restocking after the end-of-year holiday season is supporting demand for polished diamonds and, in turn, we are seeing improved demand from the midstream for rough diamonds. However, we remain mindful of the need for a cautious approach as the recovery continues.”