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De Beers earns $515mln from seventh sales cycle


De Beers has sold rough diamonds during its seventh sales cycle of the year for $515-million compared with the $514-million recorded in the sixth sales cycle and $334-million, a year earlier.

The sales figures for the period are subject to adjustment.
De Beers chief executive Bruce Cleaver said the sentiment in the diamond industry’s midstream continues to be positive.
“Demand for rough diamonds is a result of robust demand for polished diamonds in our key markets of the US and China,” he said.
“The midstream’s optimism for the remainder of the year was also evident at the recent JCK Las Vegas trade show which was a success despite being held under challenging circumstances. 
Cleaver said as the industry approaches the traditionally slower period for rough diamond sales, De Beers remains cognisant of the risks to economic recovery from the global pandemic.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished

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