2005

De Beers Likely to See Record Sales

February 2005

De Beers’ Diamond Trading Company rough diamond 2004 sales will likely set a record this year — nearly $6 billion.

Forecasts say they will hit $5.96 billion, up 8% from $5.518 billion in 2003. Analysts credited this to the three price increases De Beers put through last year and increased production at its mines (diamond output is also due to hit a record 45.57 million carats, up 4% from the year before.)
Analysts said the gains may not necessarily translate into a big increase in profits, as revenues may be eroded by the strength of African countries currencies against the U.S. dollar.