RapNet


Rapaport News

 

Mining

 

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

De Beers Sales Drop at Sixth Cycle

Miner notes seasonal slowdown in demand.
Jul 31, 2018 7:46 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... De Beers sold $530 million of rough diamonds at its July cycle amid a seasonal slowdown in the market, the company said Tuesday.

“Demand for De Beers’ rough diamonds was in line with expectations during the seasonally quieter summer period for the industry’s midstream sector,” said CEO Bruce Cleaver.

Revenue from the sixth sales cycle, including last week’s sight, dropped 9% from $581 million during the previous cycle. Proceeds fell 8% versus a year ago.

De Beers’ rough sales slipped 2% to $3.42 billion in its first six sales of the year, according to Rapaport calculations. Rough-diamond sales were flat in the first half of the year at $2.9 billion, the miner reported last week.
Tags: Bruce Cleaver, De Beers, Rapaport News, sixth cycle
Similar Articles
StornowayStornoway Fears for Its Future
Aug 15, 2019
Stornoway Diamond Corporation has given a stern warningabout its ability...
Mountain Province Faces Nasdaq Delisting
Hong Kong Polished Imports Slide
Angola Sees Rise in Diamond Revenue
KingoldWeak Demand Dents Sales at China’s Kingold
Aug 11, 2019
Sales and profit at Kingold Jewelry decreased in the secondquarter as the...
Lucara Profit Drops Amid Lower-Value Output
Alrosa Sales Hit Lowest Level on Record
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us