Anglo American rough diamond sales value for De Beers’ eighth sales cycle of 2016
04 October, 2016
Anglo American plc announces the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for De Beers’ eighth sales cycle of 2016, amounting to $485 million, compared with the $639 million value of the seventh sales cycle of 2016.
Bruce Cleaver, CEO of De Beers, said: “Demand for De Beers’ rough diamonds in Cycle 8 continued to reflect the improved midstream trading environment compared with 2015. Our rough diamond sales were slightly ahead of expectation during the Cycle, given the normal seasonal demand patterns, the shorter than usual period between Sights 7 and 8, and the forthcoming holidays in some of the major diamond cutting centres.”
| Cycle 8 2016(1) (provisional) | Cycle 7 2016(2) (actual) | |
|---|---|---|
| Sales value(3) | $485m |
$639m |
(1)Cycle 8 2016 provisional sales value represents sales as at 3 October 2016.
(2)Cycle 7 2016 actual sales value is restated following the earlier publication of a provisional figure for the seventh 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.