This, in turn, also supported steady demand for De Beers rough diamonds during De Beers` tenth and final sales cycle of the year, which generated sales revenue of $440-million.

This is lower than the $426-million generated during the ninth sales cycle but higher than the $426-million generated in the tenth sales cycle of 2019.

Cleaver warns, however, that while the diamond industry ends the year on a positive note, "we must recognise the risks that the ongoing Covid-19 pandemic presents to sector recovery both for the rest of this year and as we head into 2021.”