De Beers first sight for 2016 is $540 million USD

De Beers the sold $540m worth of diamonds in its first of sale of the year more than double the value of the sales achieved in the final sight of 2015.

Prices for rough diamonds softened last year because of an oversupply of diamonds in the production centres forcing companies such as De Beers and Alrosa, to cut their supply of rough to the market in an effort to restore prices.

Rough diamond demand broadened across the entire range as cutting and polishing factories began to increase their production.

De Beers has said it will change the way it operates its sights to become more flexible and responsive to its clients.

Leave a Reply

Your email address will not be published.