De Beers Group rough diamond sales for Cycle 9, 2020

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De Beers Group rough diamond sales for Cycle 9, 2020

by ahnationtalk on November 18, 202016 Views

18 Nov 2020

De Beers Group today announced the value of rough diamond sales (Global Sightholder Sales and Auctions) for the ninth 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 ninth 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 9 represents the expected sales value for the period 2 November to 16 November and remains subject to adjustment based on final completed sales.

Cycle 9 2020
(provisional)1
Cycle 8 2020
(actual)2
Cycle 9 2019
(actual)
Sales value3 ($m) 450 467 400

Notes to this table are shown at the bottom of this page.

Bruce Cleaver, CEO, De Beers Group, said: “Steady demand for De Beers Group’s rough diamonds continued in the ninth sales cycle of the year, reflecting stable consumer demand for diamond jewellery at the retail level in the US and China, and expectations for reasonable demand to continue throughout the holiday season. However, the resurgence of Covid-19 infections in several consumer markets presents ongoing risks.”

-Ends-

1 Cycle 9 2020 provisional sales value represents sales as at 16 November 2020.

2 Cycle 8 2020 actual sales value represents sales between the dates of 21 September and 9 October.

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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