De Beers has announced the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for the ninth sales cycle of 2016.
The diamond miner reported a provisional sales figure of $470 million.
Bruce Cleaver, CEO, De Beers Group, said: “Encouragingly, the ninth sales cycle of 2016 showed continued good demand for De Beers rough diamonds, with sales in line with expected seasonal demand patterns.”
The company also stated that the sales figure for the eighth cycle was $494 million from the provisional figure of $485 million.
Meanwhile, Russian diamond mining giant ALROSA has announced rough diamond sales of $430.8 million in October, while polished diamond sales came to $8.2 million.
"Demand remained strong in October even on the threshold of the holiday season during the celebration of Diwali in India, the largest cutting and polishing center," said ALROSA Vice President Yury Okoemov.
The ALROSA announcement follows one by De Beers which said that rough diamond sales for the ninth sales cycle was a provisional $470 million.
