Photo by: Bloomberg
The value of rough diamond sales from global sightholder sales and auctions for diamond miner De Beers’ sixth sales cycle of this year reached a provisional figure of $410-million, down $46-million from the actual fifth cycle sales of $456-million.
Sales were also $228-million lower than the actual sales figure of $638-million in the sixth cycle of 2022.
“In line with seasonal trends, rough diamond sales continued at a lower level during the sixth sales cycle of the year. Participants in the diamond industry’s midstream sector continue to take a cautious approach to purchases in light of ongoing macroeconomic challenges,” De Beers CEO Al Cook said on July 26.
The provisional rough diamond sales figure represents the expected sales value for the period from July 10 to 25, which the company says remains subject to adjustment based on final completed sales.