De Beers CEO Al Cook
Photo by: Creamer Media's Donna Slater
Diamond miner De Beers' seventh sales cycle of this year generated $370-million – much lower than the $638-million recorded for the seventh sales cycle of 2022.
Sales were also lower than the $411-million recorded in the sixth sales cycle of this year.
"With the prevailing economic environment leading to softer end-client demand for diamond jewellery in key consumer markets, and the traditionally lower levels of midstream trading during the summer period, Sightholders continued to take a prudent approach to their purchasing during the seventh sales cycle of the year," De Beers CEO Al Cook comments.