Diamond miner De Beers Group sold $280-million of rough diamonds during the seventh sales cycle of this year.
While this was $30-million higher than sales for the sixth cycle, it was significantly lower than the $503-million of diamonds sold in the seventh sales cycle of 2018.
CEO Bruce Cleaver said that, considering midstream participants continued to work down polished diamond inventory levels and reduced levels of manufacturing in the key cutting centres, De Beers provided customers with “further supply flexibility” during the cycle.