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De Beers Reports Strong Demand For Rough Diamonds In The Most Recent Sales Cycle

The value of raw diamond sales by diamond miner De Beers during the ninth sales cycle of the year was $450 million.

Because of restrictions on the movement of people and goods in various jurisdictions around the world, the De Beers group says it has continued to implement a more flexible approach to rough diamond sales during this cycle, with the sight event being extended beyond its usual week-long duration. As a result, the provisional rough diamond sales number for Cycle 9 represents the estimated sales value from October 31 to November 15 and is subject to revision depending on final completed sales.

"We witnessed solid demand for our raw diamonds during Cycle 9," says De Beers CEO Bruce Cleaver, "with sales reflecting what is normally a calmer time for the diamond midstream ahead of polishing plants reopening in India following the Diwali vacations."

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