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SourcingJan 30, 2020
De Beers Reports First Sales Results for 2020
Rough diamond sales totaled $545 million in the miner’s first cycle of the year, up compared with the same period last year.
De Beers said rough diamond sales hit $545 million in its first sales cycle of the new year, an increase compared with both the first cycle of 2019 and the tenth cycle of 2019.
Gaborone, Botswana—Rough diamond sales in De Beers’ first sales cycle of 2020 were up compared with the same period last year.
The diamond miner said provisional rough sales at sightholder sales and auctions during Cycle 1 hit $545 million.
This is an increase when compared with the $500 million in the first sales cycle of 2019.
It’s also an uptick from the $426 million reported in Cycle 10 of 2019, which was revised upward slightly from the $425 million provisional number released in December.
De Beers CEO Bruce Cleaver noted demand was up following the end-of-the-year selling season and subsequent inventory restocking.
Here is a chart showing the 2019 to 2020 comparison for De Beers’ rough diamond sales.
2019 2020 First sales cycle $500 million $545 million (provisional) Second $496 million Third $581 million Fourth $416 million Fifth $391 million Sixth $250 million Seventh $287 million Eighth $297 million Ninth $400 million Tenth $426 million
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