Anglo American rough diamond sales value for De Beers’ fifth sales cycle of 2023 came to a provisional $450 million (R8.1 billion), slightly lower than the $479m actual value for the fourth cycle.
De Beers CEO Al Cook said in a statement: “Following the JCK Show, and with ongoing global macroeconomic challenges continuing to impact end-client sentiment, the diamond industry remains cautious heading into summer. Reflecting this, we saw demand for De Beers rough diamonds during the fifth sales cycle of the year slightly softer than in the fourth Cycle.”
The fifth Cycle provisional sales were also well down from $657m actual sales in the same cycle last year.
The provisional rough diamond sales figure quoted for Cycle five represented the expected sales value for the period June 5 and 20 and was subject to adjustment based on final completed sales.
BUSINESS REPORT