Rough diamond sales at Anglo's De Beers fall in eighth cycle

Anglo American said on Wednesday that rough diamond sales at its De Beers unit fell in the eighth cycle of the year.

Sales declined to $500m from $658m in the seventh cycle, but were up from $492m in the eighth cycle of last year.

De Beers chief executive Bruce Cleaver said: "Demand for our rough diamonds during sales cycle 8 was in line with expectations at what is a traditionally quieter time of year for the diamond industry as polishing factories in India prepare for closures ahead of the Diwali holidays.

"The steady overall demand for De Beers Group rough diamonds is reflected in the ongoing consumer demand for diamond jewellery ahead of the key holiday sales season in the US."