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De Beers July Sales Total $520M
Aug 2, 2016 4:10 AM
By Rapaport News
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RAPAPORT... De Beers sold $520 million of rough diamonds at its latest sales
cycle as the miner reported “positive” sightholder sentiment but maintained a
cautious outlook for the rest of the year.
The revenue figure for the diamond miner’s sixth sales cycle
of 2016 compares with $308 million estimated by Rapaport News for the
equivalent period a year ago. However, sales declined sequentially from a
revised $564 million in the fifth
cycle in June.
“This is an encouraging sales performance for this point in
the year, supported by positive sentiment from our customers,” said Bruce
Cleaver, De Beers newly appointed chief executive (pictured). “We maintain a cautious
outlook for the remainder of 2016.”
The sales total includes last week’s sight in Gaborone,
Botswana, as well as auction revenue and supply to beneficiation and government
partners. De Beers holds 10 sights in a year.
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Tags:
Bruce Cleaver, De Beers, Rapaport News, rough, Rough Diamonds, rough sales, sight, sighthodlers, Sights
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