De Beers has sold $500 million of rough diamonds at Cycle 8 – “down over a fifth on the previous Cycle,” according to IDEX Online. During the same Cycle last year, De Beers sold rough to the tune of $492 million.
De Beers‘ seventh rough diamond sales cycle of 2022 raked in $630 million – an increase of 21% year-on-year. During its 6th Sight, De Beers made $638 million – up 23% year-on-year.
Bruce Cleaver, CEO, De Beers Group, said: “Demand for our rough diamonds during sales cycle 8 was in line with expectations at what is a traditionally quieter time of year for the diamond industry as polishing factories in India prepare for closures ahead of the Diwali holidays.
“The steady overall demand for De Beers Group rough diamonds is reflected in the ongoing consumer demand for diamond jewellery ahead of the key holiday sales season in the US.”
