Anglo American's De Beers Sold Fewer Diamonds in Fourth Cycle

Date : 05/21/2019 @ 7:48AM
Source : Dow Jones News
Stock : Anglo American (QX) (NGLOY)
Quote : 13.73  0.16 (1.18%) @ 3:33PM

Anglo American's De Beers Sold Fewer Diamonds in Fourth Cycle

Anglo American (LSE:AAL)
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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


(END) Dow Jones Newswires

May 21, 2019 02:33 ET (06:33 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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