Shinier sales cycle for De Beers

15 November 2017 | Business

De Beers sold US$455 million worth of rough diamonds – more than N$6.5 billion at yesterday’s exchange rate – during its ninth sales cycle, the group said. This is 21% more than it previous sales cycle, but about 4.4% less than the same cycle in 2016. Commenting on the latest sales figure, De Beers CEO Bruce Cleaver said: “Following a seasonally quieter period for rough diamond sales, Cycle 9 saw an uptick in demand from our customers as retail orders increase ahead of the Christmas season.” De Beers and the Namibian government each own 50% of Namdeb Holdings. Photo Nampa/Reuters

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