With its fourth sight, De Beers Group again sees drop in rough salesMay 21, 19
Since the beginning of the year, the news releases issued by the De Beers Group regarding their periodical rough diamond sales (Global Sightholder Sales and Auction Sales) keep getting shorter and shorter. That was also valid for the report concerning De Beers' news on for the fourth sales cycle - or sight - of 2019. The moment these releases will get longer again, it will be to announce good news.
Therefore, in the few lines of its latest news release, De Beers reported that in April it had sold $415 million of rough. In April 2018, De Beers had sold $140 million more. In March 2019, De Beers still sold some $581 million
Bruce Cleaver, CEO, said: that "cycle four saw lower rough diamond sales against a backdrop of macroeconomic uncertainty, and as we enter a seasonally slower period for the industry with Indian factories closing temporarily for the traditional holiday period."