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Rough diamond sales to reach £494m, De Beers says

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The De Beers Group has announced the provisional value of rough diamond sales (Global Sightholder Sales and Auctions) has reached $650m (£494m) for the second sales cycle of 2022.

De Beers said this represents the expected sales value for the period 21 February to 8 March 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 second sales cycle of 2022, with the Sight event extended beyond its normal week-long duration”.

Bruce Cleaver, CEO, De Beers Group, said: “The second sales cycle of the year saw the continuation of robust rough diamond demand underpinned by sustained positive consumer sentiment.

“We have been shocked and saddened by the war in Ukraine, and our hearts go out to the Ukrainian people. De Beers will donate $1m (£759,000) to aid organisations that are operating in the region and providing support to those affected by the war.”

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