De Beers’ first diamond 2021 sales amount to $650 million

Anglo American plc announces the value of rough diamond sales (Global Sightholder Sales and Auctions) for De Beers’ first sales cycle of 2021, amounting to $650 million (Cycle 1 2020: $551m).

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 first 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 1 represents the expected sales value for the period 18 January to 02 February and remains subject to adjustment based on final completed sales.

Bruce Cleaver, CEO, De Beers Group, said: “With the midstream starting the year with low levels of rough and polished inventories, and following strong sales of diamond jewellery over the key holiday season in the US, we saw good demand for rough diamonds at the first cycle of the year as midstream customers sought to restock and to fill orders from retail businesses. Sales of rough diamonds are also being supported by expected demand ahead of Chinese New Year and Valentine’s Day. While risks to recovery as a result of ongoing restrictions on the movement of both people and goods persist, we have been encouraged by demand conditions.”