Anglo American's De Beers Diamond Sales Fell in Line With Seasonal Trends
July 26 2023 - 2:11AM
Dow Jones News
By Ian Walker
Anglo American said Wednesday that rough-diamond sales by its
majority-owned De Beers Group fell 10% in the sixth cycle compared
with the earlier cycle, in line with seasonal trends.
The FTSE 100 diversified mining company said De Beers sold $410
million of diamonds in the sixth sales cycle of the year, compared
with $456 million in the fifth cycle and $638 million in the sixth
cycle of 2022. There are 10 sales cycles each year.
"Participants in the diamond industry's midstream sector
continue to take a cautious approach to purchases in light of
ongoing macroeconomic challenges," De Beers Chief Executive Al Cook
said.
Anglo American said sales are provisional figures and based on
expected sales between July 10 and July 25.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
July 26, 2023 02:55 ET (06:55 GMT)
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