De Beers has announced a provisional rough diamond sales value of $480 million for the fourth sales cycle of 2023 compared to $604 million, a year earlier according to Anglo American.
The diamond company realised $542 million in the third rough diamond sales of the year.
“Sales of our rough diamonds in the fourth sales cycle of the year saw a small decrease from the previous cycle as the industry has entered what is traditionally a seasonally quieter period,” said De Beers chief executive Al Cook.
“Rough diamond demand was also influenced by ongoing macroeconomic uncertainty and a slower pace of recovery in consumer demand from China than was widely anticipated.”
De Beers increased rough prices at its second sales cycle, having done the same at the beginning of the year.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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