Anglo American's De Beers Reports 28% Rise in Diamond Sales

Date : 01/29/2020 @ 7:44AM
Source : Dow Jones News
Stock : Anglo American PLC (QX) (NGLOY)
Quote : 13.395  -0.21 (-1.54%) @ 10:20PM

Anglo American's De Beers Reports 28% Rise in Diamond Sales

Anglo American (LSE:AAL)
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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


(END) Dow Jones Newswires

January 29, 2020 02:29 ET (07:29 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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