De Beers Group predicts optimistic rough diamond sales performance

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Large rough diamond.
Large rough diamond.

The De Beers Group of Companies has announced the value of rough diamond sales for the fifth cycle of 2018.

The provisional sales values for cycle five, which include global sight-holder sales and auction sales, is $575m (£434m).

This figure represents sales as of 25 June 2018, up from actual sales of $554m (£418m) for cycle four of 2018.

Bruce Cleaver, CEO of the De Beers Group, said: “Sentiment in the diamond industry’s midstream is positive following the JCK Las Vegas trade show at the
start of the month, and we continued to see good demand for our rough diamonds across the product range.”

The report comes a month on from the announcement that De Beers Group has successfully tracked 100 high-value diamonds along the value chain during the pilot
of its industry blockchain platform, marking the first time the group’s diamonds have been digitally tracked from mine to retail.

An immutable and secure digital trail was created for a selection of rough diamonds mined by De Beers as they moved from the mine to cutter and polisher,
then through to a jeweller.

News Source:- professionaljeweller.com

Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.

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