De Beers Group eighth cycle diamond sales reach £355m

De Beers Group has announced a provisional value of its rough diamond sale of $490m (£355m) for the period 4 October to 19 October for the eighth sales cycle of 2021.

Due to the restrictions on the movement of people and products in various jurisdictions around the globe, the group said it has continued to implement a more “flexible” approach to rough diamond sales during the eighth sales cycle of 2021, with the sight event extended beyond its normal week-long duration.

As a result, the provisional rough diamond sales figure quoted for cycle eight represents the expected sales value for the period 4 October to 19 October and remains subject to adjustment based on final completed sales.

Bruce Cleaver, CEO, De Beers Group, said: “As the diamond sector prepares for the key holiday season and US consumer demand for diamond jewellery continues to perform strongly.

“We saw further robust demand for rough diamonds in the eighth sales cycle of the year ahead of the Diwali holiday when demand for rough diamonds is likely to be affected by the closure of polishing factories in India.”