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De Beers Group Rough Diamond Sales For Cycle 4 Dip On India COVID Surge May 23, 2021 (0 comments)


Gaborone, Botswana--De Beers Group last week announced the value of rough diamond sales (Global Sightholder Sales and Auctions) for the fourth sales cycle, May 3 to May 18, 2021. De Beers has continued to implement a more flexible approach to rough diamond sales, with the Sight event extended beyond its normal week-long duration. Results remain subject to adjustment based on final completed sales.

Bruce Cleaver, CEO, De Beers Group (image), said: “We continue to see robust demand for diamond jewellery in the key US and China consumer markets. However, the scale of the second wave of Covid-19 in India, where the majority of the world’s diamonds are cut and polished, has led to reduced midstream capacity and subsequently lower rough diamond demand, during what is already a seasonally slower time of year for midstream purchases. Our thoughts are with all those in India as the country navigates the current challenges presented by the pandemic – reminding us that the road ahead remains uncertain and that we must continue to adopt a watchful approach.”

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