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De Beers' 8th rough diamond sales cycle rises to US$475M

Anglo American PLC unit De Beers SA's provisional revenue from rough diamond sales in the eighth sales cycle this year improved to US$475 million from US$376 million in the year-ago sales cycle.

De Beers CEO Bruce Cleaver said in a Oct. 16 statement that, while the Indian Rupee to U.S. dollar exchange rate impacted demand for lower value categories, overall demand remained stable, reflecting consumer demand for diamond jewelry in the U.S.

Actual sales in the seventh cycle totaled US$503 million.