De Beers rough diamond Cycle 5 worth US$650mn!
De Beers Group today announced the value of rough diamond sales (Global Sightholder Sales and Auctions) for the fifth sales cycle of 2022.
Owing to the restrictions on the movement of people and products in various jurisdictions around the globe, De Beers Group has continued to implement a more flexible approach to rough diamond sales during the fifth 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 5 represents the expected sales value for the period 6 June to 21 June and remains subject to adjustment based on final completed sales.
Bruce Cleaver, CEO, De Beers Group, said: “Diamond jewellery demand continues to perform well in the key US market, and this was reinforced by positive sentiment following the influential JCK Las Vegas jewellery trade show held in mid-June.
The continued strength of US demand for diamond jewellery and the gradual reopening of retail outlets in China following Covid-19-related lockdowns have supported the sales momentum of De Beers Group’s rough diamonds in the fifth sales cycle of the year.”
Cycle 5 2022 provisional sales value represents sales as at 21 June 2022.
Cycle 4 2022 actual sales value represents sales between the dates of 2 May to 17 May.
Sales values are quoted on a consolidated accounting basis. Auction sales included in a given cycle are the sum of all sales between the end of the preceding cycle and the end of the noted cycle.