Anglo American: De Beers's Diamond Sixth Cycle Sales Boosted by US, China
July 28 2021 - 3:17AM
Dow Jones News
By Ian Walker
Anglo American PLC said Wednesday that rough-diamond sales by
its majority-owned De Beers Group were 6.9% higher in the sixth
sales cycle of 2021 compared with the previous cycle, as it
benefited from strong demand in the U.S. and China.
The diversified mining company said that the outlook remains
positive for the second half of the year, based on the strength of
diamond jewelry sales, subject to continued coronavirus-related
impacts.
De Beers sold $510 million of diamonds in the sixth cycle of the
year compared with $477 million in the fifth and $116 million for
the sixth cycle last year. There are 10 sales cycles each year.
Anglo American said sales are provisional figures due to a
change in the company's approach to diamond sales because of
pandemic-related movement restrictions around the globe. The
figures are based on expected sales between July 12 and July
27.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
July 28, 2021 03:08 ET (07:08 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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