Press release – De Beers Group [announced May 18] the value of rough diamond sales (Global Sightholder Sales and Auctions) for the fourth sales cycle of 2022.
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 fourth sales cycle of 2022, with the Sight event extended beyond its normal week-long duration. As a result, the provisional rough diamond sales figure quoted for Cycle 4 represents the expected sales value for the period 2 May to 17 May and remains subject to adjustment based on final completed sales.
| Cycle 4 2022 (provisional)1 |
Cycle 3 2022 (actual)2 |
Cycle 4 2021 (actual) |
|
| Sales value3 ($m) | 604 | 566 | 385 |
Bruce Cleaver, CEO, De Beers Group, said: “We saw the continuation of good demand for our rough diamonds during the fourth sales cycle of 2022, supported by strong consumer demand for diamond jewellery in the US. However, rough diamond demand in the coming cycle will be affected as usual by the closure of many diamond polishing factories in India for the traditional May holidays. Meanwhile, diamond businesses are also continuing to closely monitor the effects of Covid-19-related lockdowns in China and the war in Ukraine and associated sanctions.”
Notes
1. Cycle 4 2022 provisional sales value represents sales as at 17 May 2022.
2. Cycle 3 2022 actual sales value represents sales between the dates of 28 March to 12 April.
3. Sales values are quoted on a consolidated accounting basis. Auction sales included in a given cycle are the sum of all sales between the end of the preceding cycle and the end of the noted cycle.
