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De Beers reveals rough diamond sales of $660m

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De Beers Group has announced rough diamond sales (Global Sightholder Sales and Auctions) for the first sales cycle of 2022 reached $660m (£487m).

It said that the provisional rough diamond sales figure quoted for Cycle 1 represents the “expected sales value for the period 17 January to 1 February and remains subject to adjustment based on final completed sales”.

Owing to the restrictions on the movement of people and products in various jurisdictions around the globe, De Beers Group said it has “continued to implement a more flexible approach to rough diamond sales during the first sales cycle of 2022, with the Sight event extended beyond its normal week-long duration”.

Bruce Cleaver, CEO, De Beers Group, said: “As anticipated, there was strong growth in consumer demand for diamond jewellery over the end of year holiday season.

“As a result, we saw the continuation of robust rough diamond demand in the first sales Cycle of the year as buyers focused on restocking depleted inventories.”

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