Business News 6.9.2016 11:14 am

De Beers grows rough diamond sales by R1.4bn

Photo: Supplied

Photo: Supplied

De Beers says the value of rough diamond sales for the seventh cycle of this year added up to $630 million.

The world’s biggest diamond producer, De Beers, on Tuesday said it had boosted the sales of its rough diamonds by more than $100 million (R1.4 billion) as the uncut or polished diamonds industry begins a peak season.

De Beers, a member of the Anglo American Group, said the value of rough diamond sales for the seventh cycle of this year added up to $630 million, up from $528 million of the sixth sales cycle.

De Beers chief executive Bruce Cleaver said: “We saw healthy demand for our rough diamonds in Cycle 7, as manufacturers brought forward some of their demand in order to cut and polish rough diamonds in time for the important retail selling season.”

De Beers is the world’s leading diamond company, with expertise in the exploration, mining and marketing of diamonds and with mining operations in Botswana, Canada, Namibia and South Africa.

– African News Agency (ANA)

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