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De Beers’s Sight 1 Rakes In Highest Figure in Three Years

De Beers sold $650 million worth of rough diamonds at its first sale of the year
De Beers Diamond Sourcing
Credit: De Beers

De Beers sold $650 million worth of rough diamonds at its first sales Sight of the year – “the highest figure” since January 2018, according to IDEX Online.

 

De Beers rough diamonds
Credit: De Beers

 

In Sight 10, the last Sight of 2020, De Beers sold $452 million worth of rough, while in the corresponding Sight of 2020 (Sight 1), De Beers sold $551 million worth of rough.

 

De Beers diamond mine
Credit: De Beers

 

Bruce Cleaver, CEO of De Beers Group, said: “With the midstream starting the year with low levels of rough and polished inventories, and following strong sales of diamond jewellery over the key holiday season in the US, we saw good demand for rough diamonds at the first cycle of the year as midstream customers sought to restock and to fill orders from retail businesses. Sales of rough diamonds are also being supported by expected demand ahead of Chinese New Year and Valentine’s Day. While risks to recovery as a result of ongoing restrictions on the movement of both people and goods persist, we have been encouraged by demand conditions”.



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