The company confirmed that its August and October trading sessions will be merged into a single sight in September.
According to reporting by Rapaport News, De Beers attributed the decision to feedback from sightholders about midstream tradition conditions. A statement also raised timing conflicts with a UN conference in Botswana in December.
“De Beers has already cut its production targets twice this year. This is the first time it has called off a sight since early 2020, at the beginning of the COVID-19 crisis,” writes Rob Bates of JCK Online.
“The news comes as another miner, Petra Diamonds, announced it’s postponing the August-September auction scheduled for its South African production. Instead, those goods will be sold in October.”
The merged sight will occur from 23 to 27 September, and the following sight is expected to take place from 4 to 8 November. The final sight for the year will occur on 2-6 December.
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