- Cycle 2 of 2020 is a $100m more than Cycle 2 of 2021
- Says it will donate $100m to charities in Ukraine
GAZETTE REPORTER
Rough diamond sales at the world’s leading diamond mining company De Beers reached $650 million (over P7 billion) in the second sales cycle of 2022.
This is a $100 million increase on the second sales cycle of 2021.
According to De Beers CEO Bruce Cleaver, the second sales cycle of the year saw continuation of robust rough diamond demand underpinned by sustained positive consumer sentiment.
Cycle 2 of 2022 sales value represents sales as at 8 March 2022.
Cleaver said owing to restrictions on the movement of people and products in various jurisdictions around the globe imposed for control of COVID-19, De Beers Group has continued to implement a more flexible approach to rough diamond sales during the second sales cycle of 2022, with the Sight event extended beyond its normal week-long duration.
“As a result, the provisional rough diamond sales figure quoted for Cycle 2 represents the expected sales value for the period 21 February to 8 March and remains subject to adjustment based on final completed sales,” he said.
Cleaver noted that De Beers has been shocked and saddened by the war in Ukraine and will donate US$ 1 million to aid organisations that are operating in the region to provide support to those affected by the war.
De Beers Group is a multinational company that specialises in diamond exploration, diamond mining, diamond retail, diamond trading and industrial manufacturing. The company is active in open-pit and large scale alluvial, coastal and deep mining. It operates in 35 countries, including Botswana from where it generates approximately 75 percent of its earnings.
De Beers’ major shareholder is Anglo American, which owns 85 percent of the company. The remaining 15 percent is owned by the Government of Botswana.
De Beers Group and its partners produce around one third of the world’s rough diamonds by value. De Beers sells rough diamonds to global diamantaires through its diamond trading and auction businesses. It sells polished diamonds and diamond jewellery via its Forevermark and De Beers Jewellers businesses.