Market headwinds drag ODC sales down 35%

Friday, October 30, 2015

CAPE TOWN: Okavango Diamond Company (ODC) value of sales fell by 35 percent in the first nine months of the year compared to the same period in 2014 as global market headwinds impacted demand for rough diamonds.

In the period January to September, ODC sold 1.64 million carats of rough valued at $303 million.

According to ODC deputy managing director, Marcus ter Haar this represented a 35 percent drop in the value of rough stones sold in the same period last year, which stood at $463 million.

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