A cautious approach at De Beers Cycle 3

Apr 18, 2024

DeBeers 1 1De Beers Group announced the value of rough diamond sales (Global Sightholder Sales and Auctions) for De Beers’ third sales cycle of 2024, amounting to $445 million. The provisional rough diamond sales figure quoted for Cycle 3 represents the expected sales value for the period and remains subject to adjustment based on final completed sales.

Al Cook, CEO of De Beers, said: “Many diamond businesses are continuing to take a cautious approach to purchases amidst the uncertain economic landscape and the slow pace of growth in China. However, we saw a further uptick in our rough diamond sales in our third sales cycle, ahead of what is usually a slower period for rough diamond demand in the second quarter of the year.”

DeBeers Cycle 3 2024

(provisional)[1]

Cycle 2 2024

(actual)[2]

Cycle 3 2023

(actual)

Sales value[3]($m) 445 431 542

Note:

[1] Cycle 3 2024 provisional sales value represents sales as at 16 April.

[2] Cycle 2 2024 actual sales value represents sales between the dates of 1 February and 12 March.

[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.

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