De Beers sold $450 million worth of rough diamonds in the first sales cycle of 2023. For comparison, in the first cycle of 2022, De Beers sold $660 million of rough diamonds, and in the last (10th) cycle of 2022, it raked in $417 million,
“While there is still some uncertainty over the macroeconomic environment,” De Beers said in a statement, “we see cautious optimism for demand to increase as China continues to reopen and inflation rates start to decrease in many major economies.”
De Beers also reported an increase of almost 6% in production to a total of 8.2 million carats in Q4 2022, according to a report by IDEX Online reports. Production for 2022 totaled 34.6 million carats – 7% more than 2021, and slightly above its production guidance of 32-34 million carats for 2022.
