De Beers’ tenth sales cycle of 2021 amounts to only $332 million

Anglo American plc announces the value of rough diamond sales (Global Sightholder Sales and Auctions) for De Beers’ tenth sales cycle of 2021, amounting to $332 million. Cycle 10 2021 provisional sales value represents sales as at 21 December 2021. This is way below $452m of the Cycle 10 in 2020. Cycle 9 2021 actual sales value of $438m represents sales between the dates of 8 November and 23 November.

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 tenth 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 10 represents the expected sales value for the period 6 December to 21 December and remains subject to adjustment based on final completed sales.

Bruce Cleaver, CEO, De Beers Group, said: “Rough diamond demand and midstream sentiment continued to be positive in the final sales cycle of 2021, although as anticipated we saw some impact on sales ahead of the seasonal closure of polishing factories in southern Africa over the Christmas period. Nonetheless, despite the ongoing challenges of Covid-19, our rough diamond sales for the year are higher than what we saw in 2019 before the onset of the pandemic, and much higher than our sales in 2020. Consumer demand for diamond jewellery is continuing to perform very well over the key holiday period, so we head towards the new year with positive trading conditions and industry sentiment.”