De Beers final sales cycle for 2020 rakes in $440mln as steady demand continues

De Beers' tenth sales cycle of 2020 raked in $440 million compared to $424 million, a year earlier, according to Anglo American, which has an 85% stake in the diamond company.
The diamond giant realised $462 million from the ninth sales cycle.
"Positive consumer demand for diamond jewellery as we enter the holiday season is supporting the continuation of retail orders for polished diamonds from the diamond industry's midstream sector," De Beers chief executive Bruce Cleaver. 
"This in turn supported steady demand for De Beers rough diamonds at our final sales cycle of 2020. 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."
De Beers has continued to implement a more flexible approach to rough diamond sales during the tenth sales cycle of 2020, with the Sight event extended beyond its normal week-long duration. 

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