De Beers’ Sales Up 26% in 3rd Sight of 2022
Diamond mining giant De Beers has reported that rough sales have gone up 26% to $565 million from its third sales cycle (Sight) of 2022, IDEX Online reports.
Sales at De Beers’ second Sight in February totaled $652 million. In its 1st Sight, De Beers sold diamonds to the tune of $450 million.
De Beers’ CEO Bruce Cleaver acknowledged that demand for rough remained strong, but added a caution: “As we head into the seasonally slower second quarter of the year, diamond businesses are adopting a more cautious and watchful approach in light of the war in Ukraine and associated sanctions, as well as Covid-19 lockdowns in China.”