De Beers Realises $450 mln from 9th Cycle

Gaborone: De Beers realised $450 million from the ninth rough diamond sales cycle of 2022 compared to $438 million, a year earlier.

The revenue dropped 12.1% when compared to $508 million realised during the eighth sales cycle of the year.

De Beers chief executive Bruce Cleaver said the group witnessed good demand for its rough diamonds during the cycle with sales reflecting what is traditionally a quieter time for the diamond midstream ahead of polishing factories reopening in India following the Diwali holidays.

The diamond company has continued to implement a more flexible approach to rough diamond sales during the ninth sales cycle of 2022, with the sight event extended beyond its normal week-long duration.