De Beers has unveiled its sales schedule for the coming year, with plans to hold the usual 10 sights across the 12-month period.
The miner sells most of its rough to sightholders through a contract system under which clients make certain purchasing commitments in return for consistent supply.
Over the last few cycles, the company has allowed sightholders to buy fewer goods amid oversupply issues and weak demand, aiming to rebalance the market.
Most recently, the company reduced rough prices by 10% to 15% at its December sight — the final sale of the year — a move with which many were unhappy, market insiders told Rapaport News. The company also removed some of the extra supply flexibility.
Next year, the final sight will take place over four days, rather than the traditional five.
The dates for De Beers’ 2025 sights, based on a note sent to sightholders seen by Rapaport News are as follows:
- Sight 1: January 20 to 24
- Sight 2: February 24 to 28
- Sight 3: March 31 to April 4
- Sight 4: May 5 to 9
- Sight 5: June 9 to 13
- Sight 6: July 14 to 18
- Sight 7: August 25 to 29
- Sight 8: October 6 to 10
- Sight 9: November 3 to 7
- Sight 10: December 8 to 11
Image: Packets of rough diamonds for sightholders. (Ben Perry/Armoury Films/De Beers)
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