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De Beers sold $410 million worth of diamonds in its tenth sales cycle of 2022

Kitco Media
By Vladimir Basov
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(Kitco News) - On Wednesday, Anglo American announced that the provisional value of rough diamond sales for De Beers' tenth sales cycle of 2022 amounted to $410 million, higher than the tenth sales cycle of 2021 ($336 million) and lower than the previous cycle ($454 million).

In a statement, the company said that demand for its rough diamonds over the final sales cycle of 2022 was in line with expectations, ahead of the normal seasonal closure of polishing factories in southern Africa over the Christmas period and "with Sightholders taking a prudent approach ahead of restocking after Christmas and the expected re-opening of the China market."

Anglo American is a leading global mining company and producer of diamonds (through De Beers), copper, platinum group metals, premium quality iron ore and steelmaking coal, and nickel – with crop nutrients in development. The company is committed to being carbon neutral across its operations by 2040.

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Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

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