De Beers has announced that its third sales cycle of 2024 generated $445 million in revenue, Rough & Polished reports.
This marks an increase from the $431 million recorded during the previous cycle last month. However, it is still a decline compared to the $542 million reported for the same cycle of 2023.
De Beers CEO Al Cook commented: “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.”
