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De Beers' 10th rough diamond sales cycle climbs YOY to US$540M

Anglo American PLC unit De Beers SA's provisional revenue from rough diamond sales in the 10th sales cycle this year climbed to US$540 million from US$455 million in the year-ago sales cycle.

De Beers CEO Bruce Cleaver said in a Dec. 18 release that sales in the final cycle continued to be in line with expectations ahead of the retail selling season as cutting and polishing factories in India restarted operations after the Diwali holiday.

Actual sales in the ninth cycle totaled US$442 million.