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De Beers' 4th rough-diamond sales cycle falls YOY to US$415M

Anglo American PLC unit De Beers SA's provisional rough-diamond sales in the fourth cycle of 2019 fell to US$415 million from actual sales of US$554 million in the year-ago cycle.

CEO Bruce Cleaver said May 21 that the company saw lower rough-diamond sales during the fourth cycle due to macroeconomic uncertainty and a seasonally slower period for the industry as Indian factories are temporarily closing for the traditional holiday period.

Actual rough-diamond sales in the third cycle this year were US$581 million.