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De Beers’ sales perk up

Wednesday, January 31, 2024 | 6430 Views |

Glittering riches: Diamonds appear to be clawing their way out a slump PIC: LUCARA

De Beers’ rough diamonds sales almost tripled in the first sale of the year, reaching $370 million (P5.1 billion), rising from recent lows and signalling hopes for an uptrend in demand.

Preliminary receipts from the latest sales, held in Gaborone, were the highest since the seventh sales cycle last year, after which demand tightened even further, reaching COVID-era lows.

Commenting on the latest sales cycle, De Beers’ CEO, Al Cook, said solid consumer demand for diamonds in the United States over the year-end holiday season had “certainly helped” to stabilise the industry. He said there was certainty that polished diamond prices were increasing again.

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De Beers’ sales perk up

De Beers’ rough diamonds sales almost tripled in the first sale of the year, reaching $370 million (P5.1 billion), rising from recent lows and signalling hopes for an uptrend in demand.

UDC delivers on P2 500 wage promise through Ikageng Programme reforms

Govt inks $4bn renewable energy deal with Indian firm

Detained Mexican 'Drug Kingpins' wanted in Mozambique

Greater Gaborone gets P534m hi-tech traffic eye

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Citizenship isn't for sale—Mokgware

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Micro-procurement maze demands urgent reform

Micro-procurement maze demands urgent reform