Anglo American rough diamond sales value for De Beers’ second sales cycle of 2021
10 March, 2021
Anglo American plc announces the value of rough diamond sales (Global Sightholder Sales and Auctions) for De Beers’ second sales cycle of 2021, amounting to $550 million.
Cycle 2 2021(1) (provisional) |
Cycle 1 2021(2) (actual) |
Cycle 2 2020 (actual) |
|
---|---|---|---|
Sales value(3) | $550m | $663m | $362m |
(1) Cycle 2 2021 provisional sales value represents sales as at 8 March 2021
(2) Cycle 1 2021 actual sales value represents sales between the dates of 18 January and 2 February.
(3) Sales values are quoted on a consolidated accounting basis. Auction sales included in a given cycle are the sum of all sales between the end of the preceding cycle and the end of the noted cycle.
Owing to the restrictions on the movement of people and products in various jurisdictions around the globe, De Beers Group has continued to implement a more flexible approach to rough diamond sales during the second sales cycle of 2021, with the Sight event extended beyond its normal week-long duration. As a result, the provisional rough diamond sales figure quoted for Cycle 2 represents the expected sales value for the period 22 February to 08 March and remains subject to adjustment based on final completed sales.
Bruce Cleaver, CEO, De Beers Group, said: “We saw the continuation of good rough diamond demand during our second sales cycle of 2021 on the back of positive consumer demand for diamond jewellery. Midstream buyers continued to express healthy demand following better than expected retail sales of diamond jewellery over Christmas, Chinese New Year and Valentine’s Day, with the industry now set to enter what is traditionally a period of lower seasonal demand. While the year has started positively, we recognise ongoing near-term uncertainty in the pace and shape of the recovery.”