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De Beers' 7th rough diamond sales cycle slips to US$505M

Anglo American PLC unit De Beers SA's provisional revenue from rough diamond sales in the seventh sales cycle this year fell to US$505 million from US$507 million in the year-ago sales cycle.

De Beers CEO Bruce Cleaver said in a Sept. 11 statement that demand remains stable ahead of a jewelry fair in Hong Kong this month.

Actual sales in the sixth cycle totaled US$533 million.