De Beers reported a proceeds of  $470 million at its fifth trading session of the year, up from $385 million in May. Last year, the company registered sales of only $56 million for the fourth and fifth cycles together, with COVID-19 bringing the supply-chain to a standstill.

Bruce Cleaver, CEO, De Beers Group, said: “With demand for diamond jewellery in the key consumer markets of the US and China continuing to be positive, and midstream capacity in India returning, we have seen strong demand for rough diamonds during the fifth sales cycle. Overall sentiment is increasingly optimistic as we move towards the second half of the year and, while risks as a result of the global pandemic persist, we have been encouraged by the condition of the market.”