De Beers’ second rough diamond sale of the year registered a 52% year-on-year jump to $550 million, but slipped 17% versus the first sale of 2021.

De Beers continued to implement a more flexible approach to rough diamond sales during the second sales cycle of 2021, with the Sight event extended beyond its normal week-long duration. This was mainly due to the restrictions on the movement of people and products in various jurisdictions around the globe, it noted.

Bruce Cleaver, CEO, De Beers Group, said: “We saw the continuation of good rough diamond demand during our second sales cycle of 2021 on the back of positive consumer demand for diamond jewellery. Midstream buyers continued to express healthy demand following better than expected retail sales of diamond jewellery over Christmas, Chinese New Year and Valentine’s Day, with the industry now set to enter what is traditionally a period of lower seasonal demand. While the year has started positively, we recognise ongoing near-term uncertainty in the pace and shape of the recovery.”

The provisional rough diamond sales figure quoted for Cycle 2 represents the expected sales value for the period 22nd February to 8th March and remains subject to adjustment based on final completed sales.

Caption: Diamond display within Gahcho Kué mine, Canada. Photograph by Ben Perry / © De Beers Group