De Beers reported provisional Cycle 8 sales of $370 million, a 25 percent drop when compared to 2016 Cycle 8 sales.
CEO Bruce Cleaver observed, “De Beers offered fewer rough diamonds for sale in Cycle 8, reflecting the concurrent timing this year of the Sight sale with the closure of polishing factories in India and Israel for the observance of religious holidays. Sales were in line with expectations, at what is a seasonally slower time for rough diamond demand.”
De Beers also reported that actual sales figures for Cycle 7 now stand at $507 million.
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