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Market NewsNewsDiamond jewellery consumption 'positive' in 2017, De Beers

Diamond jewellery consumption 'positive' in 2017, De Beers

De Beers, in its preliminary financial results for 2017, reports underlying EBITDA increased by 2% to $1,435 million (2016: $1,406 million) despite lower revenue following the one-off industry midstream restocking in 2016, miningreview.com reported.

This performance was driven by improved margins, which benefited from lower unit costs, a strong contribution from Canada (driven by Gahcho Kué’s ramp-up and the closure of Snap Lake), and Element Six (which benefited from a recovery in oil and gas markets), said the miningreview.com report.

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