De Beers Group today announced the value of rough diamond sales (Global Sightholder Sales and Auctions) for the eighth sales cycle of 2020.
The miner said that due to the restrictions on the movement of people and products in various jurisdictions around the globe, it has continued to implement a more flexible approach to rough diamond sales during the eighth sales cycle of 2020, with the Sight event extended beyond its normal week-long duration.
As a result, the provisional rough diamond sales figure quoted for Cycle 8 represents the expected sales value for the period 21 September to 9 October and remains subject to adjustment based on final completed sales.
Cycle 8 2020
(provisional)
Cycle 7 2020
(actual)
Cycle 8 2019
(actual)
Sales value[($m)
467
334
297
Bruce Cleaver, CEO, De Beers Group, said: “We continue to see a steady improvement in demand for rough diamonds in the eighth sales cycle of the year, with cutters and polishers increasing their purchases as retail orders come through ahead of the key holiday season. It’s encouraging to see these demand trends, but these are still early days and there is a long way to go before we can be sure of a sustained recovery in trading conditions.”
