De Beers ups its diamond sales by 7.6% in fifth sales cycle

Anglo American plc announced the value of rough diamond sales (Global Sightholder Sales and Auctions) for De Beers’ fifth sales cycle of 2022, amounting to $650 million, which is 7.6% higher compared with $604 million earned in the fourth sales cycle. 
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 fifth sales cycle of 2022, with the Sight event extended beyond its normal week-long duration, the announcement said. As a result, the provisional rough diamond sales figure quoted for Cycle 5 represents the expected sales value for the period 6 June to 21 June and remains subject to adjustment based on final completed sales.
Bruce Cleaver, CEO, De Beers Group, said: “Diamond jewellery demand continues to perform well in the key US market, and this was reinforced by positive sentiment following the influential JCK Las Vegas jewellery trade show held in mid-June. The continued strength of US demand for diamond jewellery and the gradual reopening of retail outlets in China following Covid-19-related lockdowns have supported the sales momentum of De Beers Group’s rough diamonds in the fifth sales cycle of the year.”