Diamond sales drop marginally to P5b

In its penultimate sale of 2016, De Beers sold diamonds worth $470 million (P5 billion), five percent lower than the $494 million (P5.2 billion) earned in the eighth sales cycle.

“Encouragingly, the ninth sales cycle showed continued good demand for De Beers’ rough diamonds, with sales in line with expected seasonal demand patterns,” CEO, Bruce Cleaver commented. De Beers holds 10 sights a year to handpicked buyers who come to Gaborone from major cutting centres such as Tel Aviv, Mumbai, Antwerp to negotiate their parcels.