De Beers Reports Rough Sales Up Due to Indian Firms After Diwali

Diamond mining giant De Beers sold rough diamonds with a provisional value of $540 million in the 10th and final sales cycle (Global Sightholder Sales and Auction Sales) of 2018.

The miner's two previous sales had both been below $500 million.

The miner reported confirmed sales of $442 million in the ninth cycle, compared with an initial provisional figure of $440 million.

Bruce Cleaver, CEO, De Beers Group, said: “De Beers Group’s rough diamond sales during the final cycle of the year continued to be in line with expectation ahead of the all-important retail selling season as cutting and polishing factories in India restarted their operations following the Diwali holiday.”

De Beers' sales in the 10th sight of 2017 were $455 million.