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De Beers’ sales sink to COVID era lows

Friday, November 10, 2023 | 930 Views |

Under pressure: Jwaneng Mine is amongst the most productive in the De Beers group

De Beers’ latest sale of rough diamonds, held in Gaborone, netted a provisional $80 million, the lowest amount since April 2020 when demand and prices crashed due to COVID-19.

De Beers sells 90% of its production by value to an exclusive list of contract buyers known as sightholders, who are offered stones at 10 sales events or 'sights' held in Gaborone each year.

“Macro-economic challenges continue to affect the diamond sector,” De Beers CEO, Al Cook said on Wednesday in announcing the latest sales results.

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De Beers’ sales sink to COVID era lows

De Beers’ latest sale of rough diamonds, held in Gaborone, netted a provisional $80 million, the lowest amount since April 2020 when demand and prices crashed due to COVID-19.