Anglo American: De Beers' diamond sales down.
(CercleFinance.com) - De Beers, the diamond subsidiary of the South African mining group Anglo American, reports that the 7th cycle of diamond sales of the year 2017 generated sales of 505 million dollars according to preliminary estimates.
For the record, the sixth cycle finished with sales of 576 million dollars, and the seventh cycle of 2016 reached sales of 639 million dollars.
De Beers' CEO, Bruce Cleaver, believes that this decline was expected: this year, the Hindu religious festival of Diwali, at which many precious gifts are given, occurred sooner than expected.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
For the record, the sixth cycle finished with sales of 576 million dollars, and the seventh cycle of 2016 reached sales of 639 million dollars.
De Beers' CEO, Bruce Cleaver, believes that this decline was expected: this year, the Hindu religious festival of Diwali, at which many precious gifts are given, occurred sooner than expected.
Copyright (c) 2017 CercleFinance.com. All rights reserved.