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De Beers’ 2nd Sales Cycle Drops to $355 Million, Coronavirus Blamed

De Beers promised to put in place “additional targeted flexibility" for its sightholders
De Beers rough diamonds
Credit: De Beers

Anglo American has announced the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for De Beers’ 2nd sales cycle of 2020, which amounted to $355 million.

 

Diamond Mining Vessel boat sea De Beers
Credit: De Beers

 

In the 1st cycle of the year, De Beers raked in $501 million. In the corresponding cycle in 2019, De Beers raked in $496 million.

 

corona virus diamond jewelry
Credit: IHOR SULYATYTSKYY / shutterstock.com

 

Bruce Cleaver, CEO of De Beers Group, said: “Following an improvement in demand for rough diamonds during the first sales cycle of 2020, we recognised the impact of COVID-19 Coronavirus on customers focused on supplying the Chinese market and put in place additional targeted flexibility to enable customers to defer allocations of the relevant rough diamonds”.



Tags: Diamonds News, Diamond Industry News, Diamond Prices News, De Beers News, Anglo American News

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