Strong Demand Boosts De Beers 2021 Results

De Beers, part of Anglo American, says industry recovery from the COVID impact is reflected on the company’s 2021 results. Total revenue of the company increased significantly with 66% to $5.6 billion in 2021, with rough diamond sales rising to $4.9 billion compared to $2.8 billion in 2020. Rough diamond sales were driven by positive sentiment and strong demand for diamond jewelry in key consumer markets like the US and Mainland China. Both diamond jewelry markets posted positive growth, not only compared to 2020 but also to the pre-pandemic year 2019.

Rough production increased by 29% to 32.3 million carats but this was primarily due to a lower level in production in 2020 as a result of Covid-19 related lockdowns and lower demand. De Beers expects to produce 30-33 million carats in 2022.