Anglo American's diamond mining business De Beers reported a year-on-year 24% drop in second-cycle rough diamond sales, which amounted to $495 million (R9.2bn).
The figure shows an increase from the $454m of rough diamonds sold in the first sales cycle of 2023, but a decrease from the $652m sold in the second sales cycle of 2022.
The group said the latest figure remains subject to adjustment based on final completed sales.
The newly appointed De Beers Group CEO Al Cook said: “In this, my first Sight update to the market, I am pleased to see continued steady demand for rough diamonds in line with our expectations for sales as the year progresses.
“For example, we know that Sightholders planned more of their purchases for later in 2023, given the economic uncertainty at the time they were taking their planning decisions at the end of 2022,” Cook said.
He said it was also encouraging to see some positive trends in end-client demand for diamond jewellery at the start of the year.
Cook replaced Bruce Cleaver who was CEO of De Beers for six years. Cleaver has taken up the role of non-executive chairman of De Beers.
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