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diamonds

De Beers sells $315m of rough diamonds in fifth cycle

26th June 2024

By: Creamer Media Reporter

     

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Diamond miner De Beers sold $315-million worth of rough diamonds in the fifth sales cycle of this year, compared with the $383-million worth of diamonds sold in the fourth cycle of this year.

Sales were also lower than the $456-million recorded in the fifth sales cycle of 2023.

"The northern summer is generally a quieter period for rough diamond sales, and this was reflected in our Cycle 5 sales.

"The recent annual JCK jewellery show in Las Vegas confirmed a resurgence in retailers' interest in natural diamonds in the US but ongoing economic growth challenges in China mean we continue to expect a protracted U-shaped recovery in demand," comments De Beers CEO Al Cook.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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