De Beers diamond sales fall in latest cycle

Diamond producer De Beers reported a fall in sales in its latest cycle.

The company, owned by mining giant Anglo American, said provisional sales came in at $450m, compared with $508 in the previous period.

"We saw good demand for our rough diamonds during Cycle 9 with sales reflecting what is traditionally a quieter time for the diamond midstream ahead of polishing factories reopening in India following the Diwali holidays," said Bruce Cleaver, De Beers chief executive.