DeBeers Cycle 10 valued of $440m

Diamond industry ends the year on a positive note! 

De Beers Group announced the value of rough diamond sales (Global Sightholder Sales and Auctions) for the tenth sales cycle of 2020. Owing to the restrictions on the movement of people and products in various jurisdictions around the globe, De Beers Group has continued to implement a more flexible approach to rough diamond sales during the tenth sales cycle of 2020, with the Sight event extended beyond its normal week-long duration. 

As a result, the provisional rough diamond sales figure quoted for Cycle 10 represents the expected sales value for the period 7 December to 16 December and remains subject to adjustment based on final completed sales. 

Bruce Cleaver, CEO, De Beers Group, said: “Positive consumer demand for diamond jewellery as we enter the holiday season is supporting the continuation of retail orders for polished diamonds from the diamond industry’s midstream sector.

 This in turn supported steady demand for De Beers rough diamonds at our final sales cycle of 2020. While the diamond industry ends the year on a positive note, we must recognise the risks that the ongoing Covid-19 pandemic presents to sector recovery both for the rest of this year and as we head into 2021.”