De Beers Reports Rough Diamond Sales of $610 Million

The De Beers Group of Companies announced the value of rough diamonds sold during its second 2016 sales cycle. According to the company, sales came in at $610 million, up from $545 million in the year’s first sales cycle.
As quoted in the press release:

Rough diamond demand continues to show signs of improvement as excess inventory has continued to work through the system in recent months.

Philippe Mellier, chief executive of the De Beers Group, commented:

Retailer restocking after the end of year holiday season is supporting demand for polished diamonds and, in turn, we are seeing improved demand from the midstream for rough diamonds. However, we remain mindful of the need for a cautious approach as the recovery continues.

Click here to read the full De Beers Group of Companies press release.