Diamond dealer De Beers cancels its third sales cycle

In a press release issued on Monday, March 30, mining conglomerate Anglo American announced that its diamond subsidiary De Beers Group will not be holding its third sales cycle of the year due to containment measures in Botswana, South Africa and India to contain the coronavirus pandemic. This new sales cycle was scheduled to take place from 30 March to 3 April. However, Anglo American said that De Beers will allow « sightholders » – hand-picked buyers (polishers, gem dealers, etc.) who can inspect the diamonds – to defer 100% of their allocations to later in the year.