De Beers says rough diamond sales down amid macroeconomic uncertainty

De Beers says rough diamond sales down amid macroeconomic uncertainty

Image: iStock

The company specialises in diamond exploration, mining, retail, trading, and industrial diamond manufacturing sectors.

Anglo American subsidiary De Beers said on Tuesday rough diamond sales for the fourth cycle of 2019 amounted to $415 million from $581 million in the third cycle and compared with $554 million during the same period last year.

De Beers CEO Bruce Cleaver said: “Cycle four saw lower rough diamond sales against a backdrop of macroeconomic uncertainty, and as we enter a seasonally slower period for the 21 May 2019 Indian factories closing temporarily for the traditional holiday period.”

De Beers specialises in diamond exploration, mining, retail, trading and industrial diamond manufacturing sectors. The company is active in open-pit, large-scale alluvial, coastal and deep-sea mining.

– African News Agency

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