By Brecken Branstrator
De Beers’ latest round of sightholder and auction sales brought in $540 million, rebounding from the $455 million sold during the same period last year.
Gaborone, Botswana—De Beers’ final round of sightholder and auction sales for the year saw a rebound after some weakness due to a slowdown in sales of smaller stones.

The diamond miner reported provisional cycle 10 sales of $540 million. This is a 19 percent increase when compared with the $455 million reported for the same period last year.

“De Beers Group’s rough diamond sales during the final cycle of the year continued to be in line with expectation ahead of the all-important retail selling season as cutting and polishing factories in India restarted their operations following the Diwali holiday,” De Beers Group CEO Bruce Cleaver said.

The company also revised its cycle nine sales numbers, from the $440 million provisional provided last month to $442 million in actual sales.

Here’s how De Beers’ sales performed this year and how they compare with last year’s figures.

2017 2018
First sales cycle $729 million  $672 million
Second $553 million $563 million
Third $586 million $524 million
Fourth $522 million $554 million
Fifth $541 million $581 million
Sixth $576 million $533 million
Seventh $507 million $503 million
Eighth $376 million $482 million
Ninth $466 million $442 million
Tenth $455 million $540 million (provisional)

Including this final sales cycle, De Beers’ provisional full-year numbers are now at $5.39 billion in rough diamonds sold in 2018. This compares with $5.31 billion in 2017.

This month, parent company Anglo American raised its production guidance for De Beers for fiscal year 2018 from 34-36 million carats to 35-36 million carats, up from 33.5 million mined last year.

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