Retailers

De Beers Group seventh cycle diamond sales reach £374m

Due to the existing Covid-19 restrictions, the group has continued to implement a more ‘flexible approach’ to rough diamond sales during the seventh sales cycle of 2021, with the Sight event extended beyond its normal week-long duration

De Beers Group has announced a provisional value of its rough diamond sale of $515m (£374m) for the period 23 August to 7 September for the seventh sales cycle of 2021.

Due to the existing Covid-19 restrictions, the group has continued to implement a more “flexible approach” to rough diamond sales during the seventh sales cycle of 2021, with the Sight event extended beyond its normal week-long duration.

Bruce Cleaver, CEO, De Beers Group, said: “Sentiment in the diamond industry’s midstream continues to be positive and this is reflected in our sales for Sight 7. Demand for rough diamonds is a result of robust demand for polished diamonds in our key markets of the US and China.

“The midstream’s optimism for the remainder of the year was also evident at the recent JCK Las Vegas trade show which was a success despite being held under challenging circumstances.”

He added: “As we now head towards a traditionally slower period for rough diamond sales, we remain cognisant of the risks to economic recovery from the global pandemic.”

Back to top button