25 Nov 2021

  De Beers Group has announced the value of rough diamond sales (Global Sightholder Sales and Auctions) for the ninth sales cycle of 2021. 

A statement from De Beers Group says owing to the movement of people and products  around the globe, De Beers Group has continued to implement a more flexible approach to rough diamond sales during the ninth sales cycle of 2021, with the Sight event extended beyond its normal week long duration.

“As a result, the provisional rough diamond sales figure quoted for Cycle nine represents the expected sales value for the period November 8 to 23, and remains subject to adjustment based on the final completed sales,” the statement says.

The statement further states that Chief executive officer (CEO) of De Beers Group, Mr Bruce Cleaver said, “Sentiment continues to be positive on the back of strong demand for diamond jewellery from US consumers and this was reflected in the demand we saw for rough diamonds during Cycle nine.”

He added that such demand was in line with expectations; given the normal pattern of cutting factory closures in India during the Diwali festival. 

“As we head into Cycle 10, we anticipate rough diamond demand will likewise be affected by the Christmas holiday closure of cutting factories in southern Africa, but we expect to see positive industry conditions prevailing into the New Year in light of the healthy outlook for the key retail selling season,” he explained. ENDS