De Beers’ tenth rough diamond sales cycle of 2023
Anglo American plc announces the value of rough diamond sales (Global Sightholder Sales and Auctions) for De Beers’ tenth sales cycle of 2023, amounting to $130 million.
| Cycle 10 2023(1) (provisional) | Cycle 9 2023(2) (actual) | Cycle 10 2022 (actual) | |
| Sales value(3) | $130m | $86m | $417m |
(1) Cycle 10 2023 provisional sales value represents sales as at 19 December 2023.
(2) Cycle 9 2023 actual sales value represents sales between the dates of 4 October and 3 November.
(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 10 represents the expected sales value for the period between 9 November and 19 December and remains subject to adjustment based on final completed sales.
Al Cook, CEO of De Beers, said: “In the final sales cycle of 2023, De Beers continued to offer lower levels of rough diamond supply, in line with current demand. As the end-of-year holiday season progresses, we are seeing signs that the diamond industry is regaining its balance between wholesale supply and demand. Polished diamond prices look to have stabilised as inventory levels have decreased, though we expect improvements in rough diamond trading conditions to be gradual.”
