The world’s largest diamond mining company, the De Beers Group, has relaxed purchasing rules for sightholders in a move to address accumulating inventories.
De Beers Group, the world’s largest diamond mining company, has announced the results of its first sales cycle for the year, noting a sharp decline in sales.
De Beers Group has reported a decline in sales at the tenth and final cycle for 2023 as China’s slowdown and the high cost of rough weaken demand.
RAPAPORT. De Beers will offer widened concessions to purchasers of larger rough diamonds at its upcoming sight as trading has slowed amid difficult market conditions.The miner will increase its “buyback” allowance to 20% for 1-carat goods and up at the sale, which begins later this month,.
RAPAPORT. De Beers has released its sales schedule for next year, with the miner holding its usual 10 sights across the 12-month period.The miner sells most of its rough to sightholders through a contract system under which clients make certain purchasing commitments in return for.