De Beers’ underlying earnings before interest tax depreciation and amortisation (EBITDA) increased by 29% to $1,4 billion in 2022 compared to the previous year’s $1,1 billion, reflecting overall positive consumer demand for diamond jewellery, according to its parent company, Anglo American.
Total revenue also increased to $6.6 billion from $5.6 billion in 2021, with rough diamond sales rising to $6 billion from $4.9 billion, a year earlier, reflecting strong demand for rough diamonds, particularly in the first half of the year, the midstream replenishing stocks following strong consumer demand over the 2021 holiday season.
De Beers sold 30.4 million carats in 2022 compared to 33.4 million carats in 2021.
The average realised price rose by 35% to $197/ct compared to $146/ct in 2021, driven by growth in the rough price index, as well as selling a larger proportion of higher-value rough diamonds in the first half of the year.
The average rough price index increased by 23%, reflecting overall positive consumer demand for diamond jewellery, particularly in the first half of the year.
De Beers’ rough diamond production rose 7% to 34.6 million carats from last year’s 32.3 million carats, reflecting strong operational performance and higher planned levels of production to meet continued strong demand for rough diamonds, particularly in the first half of the year.
The diamond group’s production guidance for 2023 is between 30 million and 33 million carats, subject to trading conditions.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
Exclusive
Responsible business practices ‘no longer optional’, says WDC President Feriel Zerouki
The president of the World Diamond Council takes time out of her busy schedule to tell Rough&Polished readers about the critical work of the WDC. Zerouki, the first female present of the body, which includes all the important industry organizations among...
14 october 2024
James Campbell: Botswana Diamonds optimistic as it enters uncharted territory of using AI for mineral exploration
London-listed Botswana Diamonds has expressed optimism about the company’s use of artificial intelligence (AI) to scan the exploration database in Botswana to look for new mineralised deposits. Company managing director James Campbell told Rough...
07 october 2024
Artur Salyakayev: For me, happiness is freedom to make my ideas happen and create valuable products
Artur Salyakayev is an art entrepreneur, founder of the International Jewelry Academy (IJA) and the INCRUA jewelry company. He has initiated and developed successful projects in jewelry industry and services sector. He is also a leading expert...
30 september 2024
Paul Zimnisky: China key for sustained recovery in demand for natural diamonds, prices
The curtailing of upstream and midstream natural diamond production in the past months is starting to have an effect on prices, according to the New-York-based independent diamond and jewellery analyst and consultant, Paul Zimnisky. He told Rough & Polished’s...
23 september 2024
Vladimir Pilyushin: The jewelry market is not stand-alone and moves by the same laws as other markets
Vladimir Pilyushin is editor-in-chief of Russian Jeweler, a leading magazine about the jewelry industry in Russia. He told Rough&Polished about his view on the evolution of the jewelry industry in Russia and touched upon some of its problems.
16 september 2024
