OTHER

De Beers rough diamond sales fall

Seventh sales cycle the lowest for the year so far

Staff reporter
Smaller rough diamonds were sold in De Beers' seventh sales cycle for 2018

Smaller rough diamonds were sold in De Beers' seventh sales cycle for 2018

The value from the global sightholder and auction sales dropped 5.5% from the previous cycle's $533 million and was slightly lower than the $507 million made in the seventh cycle of 2017.

It was also the lowest sales cycle volume since the tenth and last cycle of 2017, which totalled $455 million.

CEO Bruce Cleaver chalked the lower value up to the fact that some smaller, lower value rough diamonds had been sold.

"Demand remains stable ahead of the September Hong Kong Jewellery & Gem Fair," he said.  

In the first six cycles of the year, De Beers sold a combined $3.4 billion worth of rough diamonds, with the total now at a provisional $3.9 billion for the year.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.