Image credit: De Beers Group
Although the result for the second sales cycle is provisional, it was lower compared to the $663 million realised in the previous cycle.
"We saw the continuation of good rough diamond demand during our second sales cycle of 2021 on the back of positive consumer demand for diamond jewellery," said De Beers chief executive Bruce Cleaver. "Midstream buyers continued to express healthy demand following better than expected retail sales of diamond jewellery over Christmas, Chinese New Year and Valentine's Day, with the industry now set to enter what is traditionally a period of lower seasonal demand."
He said although the year had started positively, De Beers recognises ongoing near-term uncertainty in the pace and shape of the recovery.
De Beers continued to implement a more flexible approach to rough diamond sales during the second sales cycle of 2021, with the Sight event extended beyond its normal week-long duration due to the restrictions on the movement of people and products in various jurisdictions around the globe.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
