De Beers has highest final sales in at least three years
De Beers topped 2017’s rough diamond revenue after reporting its strongest sales in three years in the tenth and final sales event of 2018
De Beers recorded $540m of rough diamond revenue in its 10th and final sales event of 2018, the highest in three years, pushing total revenue past the previous year’s level. De Beers, which has mines in Botswana, SA, Namibia and Canada, notched up full-year sales of $5.387bn, using the provisional figure of $540m for the sales achieved by December 17, including auctions and the big set piece event called a “sight” in Gaborone attended by about 80 hand-picked clients.
In the previous two years, De Beers achieved sales in the 10th cycle of $455m and $422m for 2017 and 2016, respectively, delivering totals of $5.311bn and $5.587bn. “De Beers Group’s rough diamond sales during the final cycle of the year continued to be in line with expectation ahead of the all-important retail selling season as cutting and polishing factories in India restarted their operations following the Diwali holiday,” said De Beers CEO Bruce Cleaver in the only comment accompanying the sales data. Cleaver ...
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