De Beers realised $500 million from the eighth rough diamond sales cycle of 2022 compared to $492 million, a year earlier.
The revenue dropped 24.3% when compared to $638 million realised during the seventh sales cycle of the year.
De Beers chief executive Bruce Cleaver said demand for their rough diamonds during the cycle was in line with expectations at what is a traditionally quieter time of year for the diamond industry as polishing factories in India prepare for closures ahead of the Diwali holidays.
“The steady overall demand for De Beers Group rough diamonds is reflected in the ongoing consumer demand for diamond jewellery ahead of the key holiday sales season in the US,” he said.
De Beers has continued to implement a more flexible approach to rough diamond sales during the eighth sales cycle of 2022, with the sight event extended beyond its normal week-long duration.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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