https://www.miningweekly.com

De Beers lifts rough diamond sales to $540m in first cycle of 2016

26th January 2016

  

Font size: - +

JOHANNESBURG (miningweekly.com) – De Beers’ rough diamond sales for the first cycle of the year improved significantly to $540-million, compared with $248-million in the final sales cycle of 2015.

The miner on Tuesday said a positive holiday season in the US from a retail perspective, low levels of rough diamond purchases by the midstream in the fourth quarter of 2015 and a subsequent reduction in manufacturing had led to polished diamond stocks pulling through the pipeline, resulting in firmer prices for polished diamonds.

Rough diamond demand had broadened across the entire product range as cutting and polishing factories began to increase their activity, it added.

“We are encouraged by the result of the first sales cycle of 2016, and will keep working closely with our customers to deliver sustainable improvements in the diamond industry in 2016,” commented CEO Philippe Mellier.

Investec analysts noted that the company had not provided any indication of pricing adjustments nor if there were any deferrals.

"Nevertheless, if $540-million has been sold this is a relatively good start for the year," they said.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 
M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.155 0.192s - 90pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: