https://www.miningweekly.com

De Beers says third cycle sales higher than historical levels, but lags behind last year

De Beers CEO Al Cook

De Beers CEO Al Cook

17th April 2024

By: Marleny Arnoldi

Online News Editor

     

Font size: - +

Diamond miner De Beers says it generated about $445-million in revenue from its third sales cycle for this year.

The figure represents the expected sales value from the company’s latest global sightholder sales and auctions and remains subject to adjustment.

It compares with the $431-million of revenue generated from sales in the second cycle of this year and $542-million of revenue generated in the third cycle of last year.

De Beers CEO Al Cook says many diamond businesses are still taking a cautious approach to purchases as economic conditions remain uncertain, particularly in China with its slow pace of economic growth.

The third sales cycle of the year is nonetheless ahead of what is usually a slower period for rough diamond demand historically. 

De Beers produces diamonds from openpit, alluvial and coastal deposits in Canada, South Africa, Botswana and Namibia.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sulzer Pumps (SA) (Pty) Ltd
Sulzer Pumps (SA) (Pty) Ltd

Sulzer South Africa, established in 1922, partners with critical industries like power, oil & gas, water, mining, and chemicals to boost...

VISIT SHOWROOM 
Tradestream
Tradestream

We partner growth of our select clients through our comprehensive and competitive integrated international logistics, trade finance and information...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 25 September 2026
Magazine round up | 25 September 2026
25th September 2026

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

➕

➕

➕

➕

➕

RESEARCH CHANNEL AFRICA

SUBSCRIBE

➕

➕

➕

➕

➕

➕

➕

➕

➕

➕

CORPORATE PACKAGES

CLICK FOR A QUOTATION

➕

➕







sq:0.043 0.064s - 111pq - 2rq
Subscribe Now