RapNet


Rapaport News

 

Mining

 

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

De Beers Sales Rise Ahead of Holiday Season

Sep 6, 2016 2:38 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... De Beers sold $630 million of rough in its seventh sales cycle this year as diamond cutters increased their demand for stock ahead of the forthcoming holiday season.

Revenue grew from a revised $528 million in the previous cycle, the miner said. A year ago, sales stood at $358 million, according to Rapaport News estimates, when the market entered a period of rock-bottom demand.

The figure includes the latest De Beers sight held in Gaborone, Botswana, from August 29 to September 2, as well as auction sales and supply to beneficiation and government partners. De Beers holds 10 sights in a year.

The company “saw healthy demand in cycle 7,” as producers brought forward purchases “in time for the retail selling season,” said Bruce Cleaver, De Beers chief executive officer.
Tags: De Beers, Rapaport News, rough sales, sight, Sights
Similar Articles
Petra Diamonds Finsch mine conveyor beltPetra in the Red as Mines Lose Value
Nov 17, 2020
Petra Diamonds saw heavy losses in the latest fiscal year...
De Beers Exec Jonathan Kendall to Retire
Dominion Nears Deal to Restart Ekati



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