De Beers` first sales cycle nets $650m

This is higher than the $551-million of diamonds sold in the first sales cycle of 2020, as well as the $452-million of diamonds sold in the tenth and final sales cycle of 2020.

“With the midstream starting the year with low levels of rough and polished inventories, and following strong sales of diamond jewellery over the key holiday season in the US, we saw good demand for rough diamonds at the first cycle of the year as midstream customers sought to restock and to fill orders from retail businesses. Sales of rough diamonds are also being supported by expected demand ahead of Chinese New Year and Valentine’s Day.

"While risks to recovery as a result of ongoing restrictions on the movement of both people and goods persist, we have been encouraged by demand conditions,” CEO Bruce Cleaver comments.