De Beers Cycle 1, 2020 Sales Go Slightly Up

Gaborone: Rough diamond sales in De Beers’ first sales cycle of 2020 were up compared with the same period last year.

The diamond miner said provisional rough sales at sightholder sales and auctions during Cycle 1 hit $545 million.

This is an increase when compared with the $500 million in the first sales cycle of 2019.

It’s also an uptick from the $426 million reported in Cycle 10 of 2019, which was revised upward slightly from the $425 million provisional number released in December.

De Beers CEO Bruce Cleaver noted demand was up following the end-of-the-year selling season and subsequent inventory restocking.