Uptick in diamond sales

De Beers sold US$545 million worth of rough diamonds in its first sales cycle of the year, the global gem giant said yesterday. This is 9% more than the same cycle last year and is nearly 28% higher compared to the last cycle of 2019. Bruce Cleaver, the chief executive officer of the De Beers Group, attributed the better sales to the end of the 2019 selling season and subsequent inventory restocking. De Beers owns 50% of Namdeb Holdings, while the rest belongs to the Namibian government. Photo Nampa/Reuters