https://www.miningweekly.com

De Beers seventh sales cycle revenue amounts to $515m

8th September 2021

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

Font size: - +

Diamond miner De Beers sold an estimated $515-million of rough diamonds during its seventh sales cycle of the year.

This compares with the $514-million in sales recorded in the sixth sales cycle, and the $334-million in sales recorded in the seventh sales cycle of 2020.

Owing to the restrictions on the movement of people and products in various jurisdictions around the globe, De Beers continued to implement its more flexible approach to rough diamond sales during the seventh sales cycle, with the Sight event extended beyond its normal week-long duration.

As a result, the provisional rough diamond sales figure quoted for Cycle 7 represents the expected sales value for the period August 23 to September 7 and remains subject to adjustment based on final completed sales.

De Beers CEO Bruce Cleaver says sentiment in the diamond industry’s midstream continues to be positive.

“Demand for rough diamonds is a result of robust demand for polished diamonds in our key markets of the US and China. The midstream’s optimism for the remainder of the year was also evident at the recent JCK Las Vegas trade show, which was a success, despite being held under challenging circumstances,” he adds.

As the traditionally slower period approaches for rough diamond sales, De Beers remains cognisant of the risks to economic recovery from the global pandemic.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

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