The impact of COVID-19 on De Beers cycle 2

De Beers Group announced the value of rough diamond sales (Global Sightholder Sales and Auctions) for the second sales cycle of 2020. De Beers Group today announced the value of rough diamond sales for the second sales cycle of 2020 remained valued of US$355 million (provisional).

 

Bruce Cleaver, CEO, De Beers Group, said: “Following an improvement in demand for rough diamonds during the first sales cycle of 2020, we recognised the impact of COVID-19 Coronavirus on customers focused on supplying the Chinese market and put in place additional targeted flexibility to enable customers to defer allocations of the relevant rough diamonds.”

 

	Cycle 2 2020 (provisional)[1]	Cycle 1 2020 (actual)[2]	Cycle 2 2019 (actual)
Sales value[3]($m)	355	551	496

[1] Cycle 2 2020 provisional sales value represents sales as at 03 March 2020.

[2] Cycle 1 2020 actual sales value is restated following the earlier publication of a provisional figure for the first sales cycle of 2020.

[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.

 

 

 

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