De Beers Group sales rise sharply year-on-year in Cycle 4

0
50

De Beers Group has announced the value of rough diamond sales (Global Sightholder Sales and Auctions) for the fourth sales cycle of 2022.

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 fourth sales cycle of 2022, with the Sight event extended beyond its normal week-long duration.

As a result, the provisional rough diamond sales figure quoted for Cycle 4 represents the expected sales value for the period 2 May to 17 May and remains subject to adjustment based on final completed sales.

De Beers Group

 

Bruce Cleaver, CEO, De Beers Group, said: “We saw the continuation of good demand for our rough diamonds during the fourth sales cycle of 2022, supported by strong consumer demand for diamond jewellery in the US. However, rough diamond demand in the coming cycle will be affected as usual by the closure of many diamond polishing factories in India for the traditional May holidays. Meanwhile, diamond businesses are also continuing to closely monitor the effects of Covid-19-related lockdowns in China and the war in Ukraine and associated sanctions.”

De Beers Group

De Beers Group