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De Beers reports: sales of diamonds are breaking records

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De Beers reports: sales of diamonds are breaking records
April 04
08:00 2017

The international corporation De Beers that is engaged in the extraction, processing and sale of diamonds has reported on the increased demand for its products. In particular, in March, the company’s revenue amounted to 580 million US dollars due to the sale of diamonds.
Compared to the same period last year, the revenue has increased by 5%.

Bruce Cleaver, the head of the South African giant, explains the increase in revenue by the jewellery exhibition that recently has taken place in Hong Kong. The international exhibition Hong Kong International Jewellery Show is held annually in early March and has been an indicator of the state of affairs in the industry.

Over the past year, the De Beers Diamond Corporation reported on the increase in revenue by 30%. In absolute terms, the revenue amounted to 6.1 billion US dollars. Interestingly, sales have risen even despite the fact that the diamonds price has dropped by about 10%. Materially, 30 million carats were sold in 2016. This is half more than the same indicator for 2015.

 

The material was prepared with the participation of  Vladimir Haritonov,
a leading analyst of the brokerage company VOSPARI.

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