Diamond miner De Beers says it generated about $445-million in revenue from its third sales cycle for this year.
The figure represents the expected sales value from the company’s latest global sightholder sales and auctions and remains subject to adjustment.
It compares with the $431-million of revenue generated from sales in the second cycle of this year and $542-million of revenue generated in the third cycle of last year.
De Beers CEO Al Cook says many diamond businesses are still taking a cautious approach to purchases as economic conditions remain uncertain, particularly in China with its slow pace of economic growth.
The third sales cycle of the year is nonetheless ahead of what is usually a slower period for rough diamond demand historically.
De Beers produces diamonds from openpit, alluvial and coastal deposits in Canada, South Africa, Botswana and Namibia.