Anglo American plc announces the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for De Beers’ first sales cycle of 2016. Rough diamond sales during the first cycle of the year improved significantly to $540 million, compared with the $248 million value of the final sales cycle of 2015.
| |
Cycle 1 2016(1) |
Cycle 10 2015 |
| Sales value(2) |
$540m |
$248m |
(1) Cycle 1 2016 provisional sales value represents sales as at 25 January 2016.
(2) Sales value is quoted in terms of sales by De Beers Global Sightholder Sales and De Beers Auction Sales, and reported on a consolidated accounting basis. Auction Sales included in a given cycle are the sum of all sales between the end of the preceding cycle and the end of the noted cycle.
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 saw polished diamond stocks pull through the pipeline, resulting in firmer polished prices. Rough diamond demand broadened across the entire product range as cutting and polishing factories began to increase their activity.
Philippe Mellier, Chief Executive of De Beers Group, said: “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.”