De Beers diamond sales drop to $630m
De Beers said it anticipates that sales in the next few cycles will be affected by the temporary closure of polishing factories for the Diwali holidays
De Beers Group has announced its value of rough diamond sales decreased 1.25% to $630m (£543.95m) for the period 15 August to 30 August (Cycle 7 2022), compared to $638m (£550.86m) in Cycle 6 2022.
De Beers said that it has continued to implement a more flexible approach to rough diamond sales during the seventh sales cycle of 2022, with the Sight event extended beyond its normal week-long duration.
This is due to the restrictions on the movement of people and products in various jurisdictions around the globe.
Bruce Cleaver, De Beers Group CEO, said: “De Beers Group rough diamond sales continued at a steady level in the seventh sales cycle of 2022.
“In line with normal seasonal trends, we anticipate that sales in the next few cycles will be affected by the temporary closure of polishing factories for the Diwali holidays.”
