De Beers nets $410 million from its tenth sales cycle of 2022

Anglo American plc, the parent company of De Beers, said the diamond miner provisionally netted $410 million at its tenth sales cycle of 2022 versus $454 million realized from the previous nineth 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 tenth sales cycle of 2022, with the Sight event extended beyond its normal week-long duration, said the statement released by Anglo American. As a result, the provisional rough diamond sales figure quoted for Cycle 10 represents the expected sales value for the period 5 December to 20 December and remains subject to adjustment based on final completed sales.
Bruce Cleaver, CEO, De Beers Group, said: “Demand for our rough diamonds over the final sales cycle of 2022 was in line with expectations, ahead of the normal seasonal closure of polishing factories in southern Africa over the Christmas period and with Sightholders taking a prudent approach ahead of restocking after Christmas and the expected re-opening of the China market.”

Vladimir Malakhov, Rough&Polished