De Beers’ Cycle 9 sale make US$461m

De Beers Group has announced the value of rough diamond sales (Global Sightholder Sales and Auctions) for the ninth sales cycle of 2021 which stood at US $462 million. 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 ninth 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 9 represents the expected sales value for the period 8 November to 23 November and remains subject to adjustment based on final completed sales.

Bruce Cleaver, CEO, De Beers Group, said: “Sentiment continues to be positive on the back of strong demand for diamond jewellery from US consumers and this was reflected in the demand we saw for rough diamonds during Cycle 9. Such demand was in line with expectations given the normal pattern of cutting factory closures in India during the Diwali festival. As we head into Cycle 10, we anticipate rough diamond demand will likewise be affected by the Christmas holiday closure of cutting factories in southern Africa, but we expect to see positive industry conditions prevailing into the new year in light of the healthy outlook for the key retail selling season.”