Second sales cycle of 2021 amounted to $440 million
There is solid demand for rough diamonds at leading diamond mining company De Beers as a traditional quieter period of the year for the diamond industry begins, the company’s Chief Executive Officer (CEO), Bruce Cleaver, said in the De Beers’ third sales cycle of 2021 statement released recently.
The De Beers Cycle 3 2021 provisional sales value represents rough diamond sales as at 6 April. According to Cleaver, the value of rough diamond sales (global sightholder sales and auctions) for De Beers’ second sales cycle of 2021 amounted to $440 million.
“Sales were in line with expectations, both market and overall industry conditions remain positive,” he noted. “However, with the pandemic developments in Europe and Mumbai’s recent lockdown resulting in the Bharat Diamond Bourse being closed, it is clear that we
will continue to see challenges relating to COVID-19.”
The De Beers Group CEO said owing to restrictions on the movement of people and products in various jurisdictions around the globe, the company continued to implement a more flexible approach to rough diamond sales during the third sales cycle of 2021.
“The Sight event extended beyond its normal weeklong duration,” Cleaver said. “As a result, the provisional rough diamond sales figure quoted for Cycle 3 represents the expected sales value for the period 22 March to 06 April and remains subject to adjustment based on final completed sales.”
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 largescale 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.