Anglo American's De Beers Reports 28% Rise in Diamond Sales
January 29 2020 - 2:44AM
Dow Jones News
By Ian Walker
Anglo American PLC (AAL.LN) said Wednesday that its
majority-owned De Beers Group sold 28% more rough diamonds in the
first sales cycle of the year than the previous cycle.
The diversified mining company said diamond producer De
Beers--which reports on 10 sales cycles each year--sold $545
million of rough diamonds in the first cycle of the year compared
with $426 million for the 10th cycle of last year
In the first cycle of 2019, De Beers sold $500 million of rough
diamonds.
"Demand for rough diamonds increased...following the end-of-year
selling season and subsequent inventory restocking," De Beers Chief
Executive Bruce Cleaver said.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
January 29, 2020 02:29 ET (07:29 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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