Sparkle returns to De Beers with $545m diamond sale
JOHANNESBURG – Anglo American’s De Beers yesterday reported that it had sold $545 million (R7.95billion) of rough diamonds in the first sales cycle of this year after a difficult 2019.
The world’s third-largest producer of rough diamonds saw sales inching up to $545m in a sign that the industry was on a recovery trajectory following a slump in demand last year.
The rough diamond sales grew from $426m in the 10th sales cycle last year and $500m in the first sales cycle of the year.
De Beers chief executive Bruce Cleaver said: “Demand for rough diamonds increased during the first Sight of 2020 following the end-of-year selling season and subsequent inventory restocking.”
Last week, Anglo American said rough diamond sales volumes fell 8percent during the 2019 full year at 30.9millioncarats compared with 33.7millioncarats in 2018.
Source: iol.co.za