Anglo American Says Rough Diamond Sales Value for De Beers' Fourth Cycle Fell
May 17 2023 - 2:50AM
Dow Jones News
By Christian Moess Laursen
Anglo American said Wednesday that the value of rough diamond
sales for De Beers' fourth sales cycle of 2023 fell to $480 million
from $604 million in the prior-year's fourth cycle.
The FTSE 100-listed diversified mining group said the sales also
fell sequentially from $542 million in the previous cycle, as the
industry has entered a traditionally weaker season.
There are 10 sales cycles each year.
"Rough diamond demand was also influenced by ongoing
macroeconomic uncertainty and a slower pace of recovery in consumer
demand from China than was widely anticipated," De Beers Chief
Executive Al Cook said.
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
May 17, 2023 02:35 ET (06:35 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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