De Beers reports steady demand for its rough diamonds 

Diamond miner De Beers Group on Tuesday announced that it had sold $475-million worth of rough diamonds during the eighth sales cycle of this year.

This is lower than the $503-million worth of diamonds sold in the seventh cycle of the year, but higher than the $376-million worth of diamonds sold in the eighth cycle of 2017.

The sales are based on global sightholder sales and auction sales.

De Beers CEO Bruce Cleaver commented that while the rupee/dollar exchange rate had impacted on demand for lower-value categories, the company continued to see steady overall demand for rough diamonds, reflecting ongoing consumer demand for diamond jewellery in the US.