Gold Mining News Hubb
Advertisement
  • Home
  • Gold News
  • Mining News
  • Contact us
No Result
View All Result
  • Home
  • Gold News
  • Mining News
  • Contact us
No Result
View All Result
Gold Mining News Hubb
No Result
View All Result
Home Mining News

De Beers’ rough diamond sales value falls

admin by admin
February 2, 2023
in Mining News


Sales of De Beers rough diamonds have fallen in the last 12 months, latest figures show. Photo by: Anglo American.

The world-leading diamond company De Beers have announced the provisional value of their first sales cycle of 2023 for rough diamond sales at $450 million. The company also confirmed actual sales for between the 5 December and the 20 December at $417 million.

The $450 million compares unfavourably to $660 million in sales revenue for the same period last year.

The company points to wider macro-economic forces leading to caution from purchasing company Sightholders for this decline.

De Beers CEO Bruce Cleaver called for cautious optimism as the year progresses, particularly as China’s economy recovers from its strict zero-covid policy. China is the largest market for polished diamond outside of the US, responsible for 11% of the market, according to 2021 data from De Beers.

The sales figures suggest greater stability in the diamond industry following the Covid-19 pandemic which led to a 28% decline in sales for De Beers during the second sales cycle of 2020, the point at which the pandemic outbreak occurred.

In recent years, consumers have also turned towards artificial diamonds. These can have cost benefits as well as limiting concerns as to the conditions under which individuals are working in diamond mines.

While De Beers has previously expressed that lab-grown diamond subsidiary Element Six is significantly smaller than the natural diamond arms of the business, the consumer interest continues to grow.





Source link

Previous Post

Canyon Coal to commission 2.4Mt Gugulethu mine in second half

Next Post

GDP Growth Forecasts by Country, in 2023

Next Post

GDP Growth Forecasts by Country, in 2023

Recommended

Caledonia looks to one fifth gold increase as starts work on Bilboes oxide mine

January 15, 2023

Tinubu’s one-million-man march grounds traffic, businesses in Ogun

November 8, 2022

Don't miss it

Gold News

Gov Ikpeazu sacks several aides

March 31, 2023
Mining News

Visualizing the Flow of Energy-Related CO2 Emissions in the U.S.

March 30, 2023
Mining News

India to start exporting coal by 2026

March 30, 2023
Gold News

Gemfields warns recessionary pressures may dampen sales after record 2022

March 30, 2023
Gold News

Time to Break the Deadlock on TotalEnergies’ Offshore Gas Deal

March 30, 2023
Gold News

FEC approves N41bn for construction of centre of excellence, hospital in Rivers

March 30, 2023
gold mining-66

© Gold Mining News Hubb All rights reserved.

Use of these names, logos, and brands does not imply endorsement unless specified. By using this site, you agree to the Privacy Policy and Terms & Conditions.

Navigate Site

  • Home
  • Gold News
  • Mining News
  • Contact us

Newsletter Sign Up

No Result
View All Result
  • Home
  • Gold News
  • Mining News
  • Contact us

© 2022 Gold Mining News Hubb All rights reserved.