Anglo American's De Beers Sold Fewer Diamonds in Fourth Cycle
May 21 2019 - 2:48AM
Dow Jones News
By Ian Walker
Anglo American PLC's (AAL.LN) majority-owned De Beers Group on
Tuesday reported a fall in rough diamond sales for the fourth sales
cycle of the year, citing a backdrop of macroeconomic
uncertainty.
De Beers--which reports on 10 sales cycles each year--sold $415
million of rough diamonds in the fourth cycle of the year compared
with $554 million for the same cycle in 2018.
In the third cycle of 2019, De Beers sold $581 million of rough
diamonds.
"Cycle four saw lower rough diamond sales against a backdrop of
macroeconomic uncertainty, and as we enter a seasonally slower
period for the industry with Indian factories closing temporarily
for the traditional holiday period," De Beers Chief Executive Bruce
Cleaver said.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
May 21, 2019 02:33 ET (06:33 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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