De Beers’ rough diamond sales for second cycle of 2024
Anglo American plc announces the value of rough diamond sales (Global Sightholder Sales and Auctions) for De Beers’ second sales cycle of 2024, amounting to $430 million.
| Cycle 2 2024(1) (provisional) | Cycle 1 2024(2) (actual) | Cycle 2 2023 (actual) | |
| Sales value(3) | $430m | $374m | $497m |
(1) Cycle 2 2024 provisional sales value represents sales as at 12 March 2024.
(2) Cycle 1 2024 actual sales value represents sales between the dates of 21 December and 30 January.
(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.
The provisional rough diamond sales figure quoted for Cycle 2 represents the expected sales value for the period and remains subject to adjustment based on final completed sales.
Al Cook, CEO of De Beers, said: “I’m pleased to see a further increase in demand for De Beers rough diamonds during the second sales cycle of 2024. However, ongoing economic uncertainty in the US has led to retailers restocking conservatively after the 2023 holiday season. Consumer demand for diamond jewellery is growing in India but remains sluggish in China. Overall, we expect that the ongoing recovery in rough diamond demand will be gradual as we move through the year.”
