De Beers to conduct cycle 8 auctions late September

Anglo American’s 85%-owned diamond group, De Beers says it will conduct its cycle 8 auctions on 24 September.
It said in a post on social media that there will be a range of products across product family and size block available for sale.
De Beers recently earned $300 million from its monthly rough diamond auction.
The diamond giant and Russia’s Alrosa were said to have both slashed prices of rough by about 10%, which encouraged buying from dealers, Bloomberg News claimed.
De Beers head of consumer and brands Stephen Lussier said the worst is now behind the industry.
He said there was some real consumer data which underlines the midstream’s belief that business is coming back for them. 
De Beers only realised revenue of $56 million in the second quarter of the year as COVID-19 travel restrictions affected diamond tenders hardest.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished