De Beers 2022 Revenues Surge to $6.6 Billion Despite Volume Sales Drop
De Beers, the world's leading diamond producer, reported a revenue growth of 18% in 2022, reaching $6.6 billion, up from $5.6 billion in 2021. However, rough diamond sales volumes dropped by 9% to 30.4 million carats, while rough diamond sales in value terms grew by 22% to $6.0 billion, and the average realised price rose by 35% to $197/ct.
Rough diamond production increased by 7% to 34.6 million carats, reflecting high demand. Despite the economic uncertainty, De Beers continued to expand its footprint in China, with branded diamond jewellery expected to have solid demand. The company's investment in source assurance for its diamonds using the Tracr™ blockchain platform could underpin future demand.
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