Anglo Ameri can Plc, the 85% owner of De Beers, said the diamond mining firm reported lower rough diamond sales in line with a seasonal slowdown in buying activity.
However, the holding firm said that demand remains stable after the miner took action last year to curb output and reduce a buildup of polished diamond inventories that was weighing on rough diamond demand and prices.
De Beers, one of the world's largest rough diamond producers and Anglo American's second-largest earnings driver last year, disclosed more details about its rough diamond sales to improve industry transparency.
De Beers generated $630 million from provisional rough diamond sales during the fourth sales cycle of 2016, ended May 23, down from $666 million from the third sales cycle in April.
"As normal seasonal trends return to the market, we are encouraged by the continued stability of demand for rough diamonds shown in the fourth sales cycle of 2016," said Philippe Mellier, chief executive of De Beers Group.
