Mining in Africa is at the core of our business, just as it always has been, and just as it will be in future ... De Beers is and will remain a natural diamond business.
- De Beers CEO Bruce Cleaver discusses Africa portfolio, exploration, technology and laboratory-grown diamonds.
According to industry insight data published today by De Beers Group, the shifting dynamic of women’s expanding roles in society and changing perceptions of femininity are creating new motivations of diamond jewelry acquisition. Social and economic changes have expanded the symbolism of diamond jewelry, women are now more empowered which has led to record levels of self-purchase, as well as the establishment of a new consumer type.
De Beers Group today announced the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for the fourth sales cycle of 2017, provisionally valued at $520 million. The fact that sales remain solid as the summer slowdown looms indicates continuaing upbeat sentiment in the manufacturing sector, spurring demand. Cycle 4 sales were down 11% from the revised figure of $586 million sold at the last sight (contract sales session) and slipped 18% from the fourth cycle a year ago.
The De Beers Group today announced the (provisional, as of April 3) value of rough diamond sales (Global Sightholder Sales and Auction Sales) for the third sales cycle of 2017, earning $580 million. This represents a nearly 5% increase over the value of sales in Cycle 2, and nearly a 13% decline from Cycle 3 2016.
De Beers announced they intend to pilot a fixed-price forward contract, which gives Auction Sales customers an opportunity to guarantee access to future supply, knowing ahead of time what they are expected to pay when the contract reaches maturity. The program will first be implemented on 16 February 2017, for the Grainers, otherwise known as Smalls- and Near-Gem categories of rough diamonds.
De Beers CEO Bruce Cleaver sat down with Joseph Pisani of the Associated Press to talk about how the diamond industry is trying to reach millennials, "the under-35-year-olds who may be more focused on paying off student loan debt than buying diamonds and getting hitched." The commercials the Diamond Producers Association launched in 2016 - the financing for which De Beers contributed to as member of the DPA - abandon the conventional view of diamonds purcha
The South African economy is in serious danger of losing its investment-grade credit rating and must reassure investors of its commitment to regulatory certainty and fiscal stability, said De Beers CEO Bruce Cleaver said. “South Africa is in a slightly difficult place right now,” Cleaver said in an interview with Bloomberg TV at the U.S.-Africa Business Forum in New York on Wednesday. “I think the threat of a ratings downgrade is serious.”
Bruce Cleaver, CEO, De Beers Group, joined world leaders, including US President Barack Obama, US Secretary of Commerce Penny Pritzker, US Secretary of State John Kerry, Michael R. Bloomberg, various African heads of state, and other private sector CEOs from the US and Africa, to examine the partnerships that have led to deepened business relationships and the exciting potential for growth in Africa. The meeting took place in the framework of the second US - Africa Business Forum, hosted by the US Department of Commerce and Bloomberg Philanthropies at the Plaza Hotel in New York.
Having taken over as De Beers CEO last month, Bruce Cleaver has spoken about the challenges facing the firm and the wider diamond industry in an upbeat message. "Volatility is the new normal, so the only way we can safeguard our success is to work to ensure effective activities across the pipeline, while continuing to support key areas – continuity of supply, midstream sustainability and downstream demand," he commented in a statement.
Will the diamond industry see more of the same with the appointment of Bruce Cleaver as the new CEO of De Beers following the departure of Philippe Mellier, asks Charles Wyndham in his latest commentary on polishedprices.com. Mellier succeeded in 2014 when De Beers was the only division of Anglo American that met the mother-company's target of a 15% return on capital employed. "The only problem was that reaching that target nearly wiped out the whole industry, a sort of wonderful coup de grace.