De Beers reports third cycle diamond sales of $445m

The De Beers Group has reported that its rough diamond sales for its third sales cycle amounted to $445m (£361.5m) as at 16 April 2024.

The figures mark an increase on the $431m (£350.2m) sold in the second sales cycle of 2024, even though it is down from $542m (£440.4m) in the same cycle from the previous year.

The group stated that the provisional rough diamond sales figure quoted for Cycle 3 represents the expected sales value for the period and remains subject to adjustment based on final completed sales.

 De Beers Group CEO Al Cook said: “Many diamond businesses are continuing to take a cautious approach to purchases amidst the uncertain economic landscape and the slow pace of growth in China. 

“However, we saw a further uptick in our rough diamond sales in our third sales cycle, ahead of what is usually a slower period for rough diamond demand in the second quarter of the year.”