De Beers H1 Revenue Plummets 21% To $2.2 Billion – Solitaire International Magazine

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Published date: 29 Jul, 2024 03:40 PM
  • Location: Mumbai, Maharashtra, India
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De Beers H1 Revenue Plummets 21% To $2.2 Billion – Solitaire International Magazine
De Beers H1 Revenue Plummets 21% To $2.2 Billion – Solitaire International Magazine

Diamond mining giant De Beers announced its financial results for the first half of 2024, revealing a challenging operating environment marked by softening demand and increased competition from lab-grown diamonds.
The company reported a 21% decline in total revenue to $2.2 billion compared to $2.8 billion in the same period last year. Rough diamond sales also fell 20% to $2.0 billion from $2.5 billion previously.
De Beers attributed the revenue drop to a 22% decrease in rough diamond sales volume to 11.9 million carats. While the average realised price remained relatively stable at $164 per carat, the overall market conditions impacted the bottom line.

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