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De Beers' 6th diamond sales cycle increases on demand from India

Anglo American Plc unit De Beers SA reported provisional sales of US$572 million of rough diamonds in its sixth sales cycle of the year, compared to US$541 million in the fifth sales cycle.

Sales in the sixth cycle of 2016 totaled US$528 million, according to the Aug. 1 release.

"With Diwali being earlier than normal in 2017, we saw some demand from Indian diamantaires pulled forward from Sight 7. This was due to these customers needing to make rough diamond purchases in sufficient time to complete their polishing before the holiday begins," De Beers CEO Bruce Cleaver said.