De Beers sixth sight sales fall to $530m on seasonal weakness

Bruce Cleaver, CEO, De Beers

ANGLO American said the sixth sight of the year resulted in diamond sales of $530m compared to $576m achieved in sales in the corresponding interim period of the 2017 financial year.

“In the sixth sales cycle of the year, demand for De Beers rough diamonds was in line with expectations during the seasonally quieter summer period for the industry’s midstream sector,” said Bruce Cleaver, CEO of De Beers in which Anglo has an 85% stake.

Sales in the fifth sight of this year totalled $581m.

Anglo said in its interim results presentation last week that De Beers had achieved a 4% increase in realised diamond prices of $162 per carat.