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DE BEERS CYCLE 7 SALES HIT $515M

Ricardo Kanono by Ricardo Kanono
September 9, 2021
in Business
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DE BEERS CYCLE 7 SALES HIT $515M
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De Beers Group today announced the value of rough diamond sales (Global Sightholder Sales and Auctions) for the seventh sales cycle of 2021. Owing to the restrictions on the movement of people and products in various jurisdictions around the globe, De Beers Group has continued to implement a more flexible approach to rough diamond sales during the seventh sales cycle of 2021, 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 23 August to 7 September and remains subject to adjustment based on final completed sales. 

Bruce Cleaver, CEO, De Beers Group, said: “Sentiment in the diamond industry’s midstream continues to be positive and this is reflected in our sales for Sight 7. 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. As we now head towards a traditionally slower period for rough diamond sales, we remain cognisant of the risks to economic recovery from the global pandemic.”

This represent an improvement since sales for Cycle 6 stood at $514m while the corresponding period last year recorded only $334m.

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  • Skelemani mishandled Kgosi Mosadi Pan African Parliament furoreMarch 22, 2023
    Adam Phetlhe The ravaging inferno sparked by the purported resignation of Kgosi Mosadi Seboko from the Pan-African Parliament (PAP) is fuelled by the Speaker of the National Assembly, Phandu Skelemani mishandling the matter. Had he performed due diligence on […]
  • Ithuba to roll-out LottoMarch 22, 2023
    STAFF WRITERS editors@thepatriot.co.bw Ithuba Solutions Botswana is waiting with bated breath for an announcement on the issuance of a lottery license, by the Gambling Authority, following the successful conclusion of negotiations in December 2022, The Patriot on Sunday has […]
  • BDP rejects Living WageMarch 22, 2023
    BAKANG TIRO editors@thepatriot.co.bw Ruling Botswana Democratic Party (BDP) MPs on Friday defeated the motion proposed by MP for Nkange constituency Dr Never Tshabang, proposing for government to introduce a living wage, which will be adjusted according to the cost […]
  • Uganda passes a law making it a crime to identify as LGBTQMarch 22, 2023
    Report by Elias Biryabarema Reuters Uganda’s parliament passed a law on Tuesday making it a crime to identify as LGBTQ, handing authorities broad powers to target gay Ugandans who already face legal discrimination and mob violence. More than 30 […]
  • Ian Khama to receive African Icon Award  March 22, 2023
    KT Press Former Nigerian President, Dr. Goodluck Ebele Jonathan will headline other African greats who are set to be honoured at the maiden edition of The African Heritage Concert and Awards slated to hold in Kigali, Rwanda on April […]
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