De Beers reported rough diamond sales (Global Sightholder Sales and Auction Sales) for the third sales cycle (sight) of 2016 at a provisional $660 million.
The miner also said that the second sight figure was $617 million.
De Beers has sold just over $1.8 billion of rough goods in the first quarter of this year on the back of strong demand. Reports last week indicated that the rise in demand, after rough prices fell 18% in 2015, encouraged the miner to raise some prices by 2%.
De Beers said, "Continued stability in polished diamond prices and sales of polished diamonds at the wholesale level supported a reasonably positive environment for rough diamond demand for the third consecutive sales cycle."
Chief Executive Philippe Mellier commented: “So far, 2016 has seen significantly stronger rough diamond demand than that experienced at the end of 2015 as the actions taken by the industry continue to have a positive effect. However, we are now moving into a part of the year where rough diamond demand has historically been lower as a result of seasonality, so we continue to adopt a prudent mind-set.”
