De Beers CEO Al Cook
De Beers has sold about $450-million of rough diamonds through global sightholder sales and auctions in its fifth cycle of this year.
The provisional rough diamond sales figure quoted for the fifth cycle represents the expected sales value for the period of June 5 to 20 and remains subject to adjustment based on final completed sales.
“Following the JCK Show, and with ongoing global macroeconomic challenges continuing to impact end-client sentiment, the diamond industry remains cautious heading into summer.
"Reflecting this, we saw demand for De Beers' rough diamonds during the fifth sales cycle of the year slightly softer than in the fourth cycle,” De Beers CEO Al Cook says.
De Beers had sold about $479-million of diamonds in the fourth sales cycle of this year.
Sales were also lower than the $657-million of diamonds sold in the fifth sales cycle of 2022.