May 18, 2022

De Beers Rough Diamond Sales Stay Robust On US Demand

De Beers continued to see strong demand for rough diamonds at its fourth sales cycle of 2022 as US consumers continued to spend on diamond jewellery. Rough sales at the fourth cycle of 2022 were up 57% year-on-year to $604 million and climbed 7% versus the preceding third sales cycle of 2022.

Bruce Cleaver, CEO, De Beers Group, said: “We saw the continuation of good demand for our rough diamonds during the fourth sales cycle of 2022, supported by strong consumer demand for diamond jewellery in the US. However, rough diamond demand in the coming cycle will be affected as usual by the closure of many diamond polishing factories in India for the traditional May holidays. Meanwhile, diamond businesses are also continuing to closely monitor the effects of Covid-19-related lockdowns in China and the war in Ukraine and associated sanctions.”

  Cycle 4 2022
Cycle 3 2022
Cycle 4 2021
Sales value ($ million) 604 566 385

Photo: Elaine Banister / © Anglo American 2015