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De Beers rough diamond sales rise to US$660M in 3rd cycle

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De Beers rough diamond sales rise to US$660M in 3rd cycle

Anglo AmericanPlc said April 12 that the value of rough diamond sales for unit 's third cycle of 2016provisionally totaled US$660 million as of April 11, compared to US$617 millionfor the second cycle.

Second-cycle sales were restated as the previously reported US$610million figure was provisional.

The company attributed the increase to "continued stabilityin polished diamond prices and sales of polished diamonds at the wholesale level,"which helped the demand for rough diamonds.

However, De Beers CEO Philippe Mellier said, "[W]e are nowmoving into a part of the year where rough diamond demand has historically beenlower as a result of seasonality, so we continue to adopt a prudent mind-set."

Earlier in April, De Beers reportedly raised its diamond prices by as much as 2% in the sale ongoingat the time — said to be the first price increase since the second half of 2014.