De Beers reduced rough diamond availability
Supports the industry’s midstream rebalances De Beers Group announced the value of rough diamond sales (Global Sightholder Sales and Auctions) for the eighth sales cycle of 2023. The provisional rough diamond sales figure quoted for Cycle 8 represents the expected sales value for the period 18 September and 03 October and remains subject to adjustment based on final completed sales. Al Cook, CEO, De Beers Group, said: “De Beers reduced its rough diamond availability and made sales of $200m as the industry’s midstream rebalances certain areas of stock accumulation. De Beers will continue to support its Sightholders to help re-establish equilibrium between wholesale supply and demand by providing full flexibility for rough diamond allocations in Sights 9 and 10 of 2023, suspending De Beers Group online rough diamond auctions for the remainder of 2023, and investing an additional $20m in natural diamond marketing to help drive consumer demand during the holiday season.”