Anglo American plc announced the value of rough diamond sales (Global Sightholder Sales and Auctions) for De Beers’ fourth sales cycle of 2021, amounting to $380 million.
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 2021, 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 3 May to 18 May and remains subject to adjustment based on final completed sales.
Bruce Cleaver, CEO, De Beers Group, said: “We continue to see robust demand for diamond jewellery in the key US and China consumer markets. However, the scale of the second wave of COVID-19 in India, where the majority of the world’s diamonds are cut and polished, has led to reduced midstream capacity and subsequently lower rough diamond demand, during what is already a seasonally slower time of year for midstream purchases. Our thoughts are with all those in India as the country navigates the current challenges presented by the pandemic – reminding us that the road ahead remains uncertain and that we must continue to adopt a watchful approach.”