De Beers has announced a provisional rough diamond sales value of $540 million for the third sales cycle of 2023, according to Anglo American.
Revenue raked in rose 8% compared to the $497 million registered during the second rough diamond sales of the year.
It, however, dropped 5% compared to $566 million, a year earlier.
Group chief executive Al Cook said they continued to see good demand for their rough diamonds over the third sales cycle of the year as De Beers moves into the second quarter of 2023.
“Sales were in line with expectations and we continue to see some encouraging positive trends in consumer demand for diamond jewellery, not least in China where we are beginning to see some signs of recovery in consumer confidence following the relaxation of travel restrictions,” he said
De Beers increased rough prices at its second sales cycle, having done the same at the beginning of the year.
Prices for small stones were said to have grown by about 10%, while in one subcategory, prices rose by 30% since the beginning of the year.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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