De Beers generates $604m in fourth sales cycle

Diamond miner De Beers has generated $604-million in revenue for its fourth sales cycle of this year.

This compares to revenue of $566-million recorded for the third sales cycle of this year and $385-million for the fourth sales cycle of 2021.

The company continues to implement a flexible approach to rough diamond sales, as restrictions on the movement of people and products persist in various jurisdictions around the world.

CEO Bruce Cleaver says demand remained healthy for rough diamonds in the fourth sales cycle, particularly supported by strong consumer demand for diamond jewellery in the US.

He warns, however, that rough diamond demand in the coming cycle will be affected, as usual, by the closure of many diamond polishing factories in India for its traditional May holidays.