De Beers’ sales sink to COVID era lows

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

Editor's Comment
Our queen: Bring home the crown

Well-wishers gathered at the Sir Seretse Khama International Airport to bid our queen farewell and wish her success as she joins other beauties from around the globe for the coveted crown. Competing in such events is nerve-wracking, and one needs to be fully prepared to stand a chance of making it as a finalist.It is not just about physical fitness; mental state matters too. Unfortunately, sometimes our queens end up facing such fierce...

Have a Story? Send Us a tip
arrow up