Gaborone: De Beers’ first sales cycle of 2022 saw robust demand totalling $660 million, which was almost at the same level as $663 million recorded a year ago.

Bruce Cleaver, CEO, De Beers Group, said, “As anticipated, there was strong growth in consumer demand for diamond jewellery over the end of year holiday season. As a result, we saw the continuation of robust rough diamond demand in the first sales Cycle of the year as buyers focus on restocking depleted inventories.”

De Beers said it continued to implement a more flexible approach to rough diamond sales during the first sales cycle of 2022, with the sight event extended beyond its normal week-long duration. As a result, the provisional rough diamond sales figure quoted for Cycle 1 represents the expected sales value for the period 17th January to 1st February and remains subject to adjustment based on final completed sales.