De Beers reports steady demand for rough diamonds in tenth sales cycle
Diamond miner De Beers CEO Bruce Cleaver says positive consumer demand for diamond jewellery is supporting the continuation of retail orders for polished diamonds from the diamond industry’s midstream sector.
This, in turn, also supported steady demand for De Beers rough diamonds during De Beers' tenth and final sales cycle of the year, which generated sales revenue of $440-million.
This is lower than the $426-million generated during the ninth sales cycle but higher than the $426-million generated in the tenth sales cycle of 2019.
Cleaver warns, however, that while the diamond industry ends the year on a positive note, "we must recognise the risks that the ongoing Covid-19 pandemic presents to sector recovery both for the rest of this year and as we head into 2021.”
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