Anglo American PLC De Beers rough diamond sales cycle 8, 2017 (7424T)
October 17 2017 - 3:00AM
UK Regulatory
TIDMAAL
RNS Number : 7424T
Anglo American PLC
17 October 2017
17 October 2017
Anglo American rough diamond sales value for
De Beers' eighth sales cycle of 2017
Anglo American plc announces the value of rough diamond sales
(Global Sightholder Sales and Auction Sales) for De Beers' eighth
sales cycle of 2017, amounting to $370 million.
Bruce Cleaver, CEO of De Beers, said: "De Beers offered fewer
rough diamonds for sale in Cycle 8, reflecting the concurrent
timing this year of the Sight sale with the closure of polishing
factories in India and Israel for the observance of religious
holidays. Sales were in line with expectations, at what is a
seasonally slower time for rough diamond demand."
Cycle 8 2017(1) Cycle 7 2017(2) Cycle 8 2016 (actual)
(provisional) (actual)
--------------- --------------- --------------- ---------------------
Sales value(3) $370m $507m $494m
--------------- --------------- --------------- ---------------------
(1) Cycle 8 2017 provisional sales value represents sales as at 16 October 2017.
(2) Cycle 7 2017 actual sales value is restated following the
earlier publication of a provisional figure for the seventh sales
cycle of 2017.
(3) Sales values are quoted on a consolidated accounting basis and are before capitalisation of pre-commercial production revenues at Gahcho Kué. Auction Sales included in a given cycle are the sum of all sales between the end of the preceding cycle and the end of the noted cycle.
For further information, please contact:
Media Investors
UK UK
James Wyatt-Tilby Paul Galloway
james.wyatt-tilby@angloamerican.com paul.galloway@angloamerican.com
Tel: +44 (0)20 7968 8759 Tel: +44 (0)20 7968
Marcelo Esquivel 8718
marcelo.esquivel@angloamerican.com Trevor Dyer
Tel: +44 (0)20 7968 8891 trevor.dyer@angloamerican.com
South Africa Tel: +44 (0)20 7968
Pranill Ramchander 8992
pranill.ramchander@angloamerican.com Sheena Jethwa
Tel: +27 (0)11 638 2592 sheena.jethwa@angloamerican.com
Ann Farndell Tel: +44 (0)20 7968
ann.farndell@angloamerican.com 8680
Tel: +27 (0)11 638 2786
Notes to editors:
Anglo American is a globally diversified mining business. Our
portfolio of world-class competitive mining operations and
undeveloped resources provides the raw materials to meet the
growing consumer-driven demands of the world's developed and
maturing economies. Our people are at the heart of our business. It
is our people who use the latest technologies to find new
resources, plan and build our mines and who mine, process and move
and market our products to our customers around the world.
As a responsible miner - of diamonds (through De Beers), copper,
platinum and other precious metals, iron ore, coal and nickel - we
are the custodians of what are precious natural resources. We work
together with our key partners and stakeholders to unlock the
long-term value that those resources represent for our shareholders
and for the communities and countries in which we operate -
creating sustainable value and making a real difference.
www.angloamerican.com
This information is provided by RNS
The company news service from the London Stock Exchange
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