Anglo American posts decline in De Beers diamond sales

Writer, Stock Market Wire
Tuesday, January 29, 2019 - 07:55

Anglo American said Tuesday the value of rough diamond sales at its De Beers unit had declined during the first cycle of 2019 to $505m from $544m seen in the tenth cycle last year.

The figure compared to $672m seen in the first cycle of 2018.

'Rough diamond sales during the first sales cycle of 2019 were lower than those for the equivalent period last year, reflecting higher than normal sales in the previous cycle (cycle 10 2018) and the slow movement of lower value rough diamonds through the pipeline,' said Bruce Cleaver, CEO of De Beers Group.


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