JOHANNESBURG (miningweekly.com) – In line with expectations, De Beers on Tuesday reported somewhat lower sales of $560-million in the fifth cycle of the current year, compared with sales of $636-million recorded in the fourth cycle.
De Beers CEO Philippe Mellier noted that the lower sales reflected typical seasonal demand patterns.
“Rough diamond demand and polished diamond prices remain stable, reflecting steady consumer demand, but we maintain a cautious outlook,” he added.