De Beers fifth cycle diamond sales reach £338m

De Beers Group has announced a provisional value of its rough diamond sale of $470m (£338m) for the period 7 June to 22 June 2021 for the fifth sales cycle of 2021.

Owing to the restrictions on the movement of people and products in various jurisdictions around the globe, the group has continued to implement a more flexible approach to its sales with the sight event extended beyond its normal week-long duration.

Bruce Cleaver, CEO, De Beers Group, said: “With demand for diamond jewellery in the key consumer markets of the US and China continuing to be positive, and midstream capacity in India returning, we have seen strong demand for rough diamonds during the fifth sales cycle.

“Overall sentiment is increasingly optimistic as we move towards the second half of the year and, while risks as a result of the global pandemic persist, we have been encouraged by the condition of the market.”