Anglo American Says Rough Diamond Sales Value for De Beers' Fourth Cycle Fell

   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)

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