Diamond miner De Beers sold $450-million of rough diamonds through sightholder sales and auctions in the ninth sales cycle of this year.
This is an improvement on the $400-million of diamonds sold during the ninth sales cycle of 2019, but slightly lower than the $467-million of diamonds sold during the eighth sales cycle of this year.
Owing to the restrictions on the movement of people and products in various jurisdictions around the globe, De Beers has continued to implement a more flexible approach to rough diamond sales during the ninth sales cycle, with the sightholder sales event extended beyond its normal week-long duration.
“Steady demand for De Beers Group’s rough diamonds continued in the ninth sales cycle of the year, reflecting stable consumer demand for diamond jewellery at the retail level in the US and China, and expectations for reasonable demand to continue throughout the holiday season.
"However, the resurgence of Covid-19 infections in several consumer markets presents ongoing risks,” De Beers CEO Bruce Cleaver comments.