Anglo American rough diamond sales value for De Beers’ fifth sales cycle of 2016
28 June, 2016
Anglo American plc announces the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for De Beers’ fifth sales cycle of 2016, amounting to $560 million, compared with the $636 million value of the fourth sales cycle of 2016.
| Cycle 5 2016(1) (provisional) | Cycle 4 2016(2) (actual) | |
|---|---|---|
| Sales value(3) | $560m |
$636m |
(1)Cycle 5 2016 provisional sales value represents sales as at 27 June 2016.
(2)Cycle 4 2016 actual sales value is restated following the earlier publication of a provisional figure for the fourth 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.
Philippe Mellier, Chief Executive of De Beers Group, said: “Sales in the fifth cycle of the year were somewhat lower than in the fourth cycle, in line with our expectations and typical seasonal demand patterns. Rough diamond demand and polished diamond prices remain stable, reflecting steady consumer demand, but we maintain a cautious outlook.”