Anglo American's De Beers Diamond Sales Slip in Tenth Cycle
17 Dezember 2020 - 08:58AM
Dow Jones News
By Ian Walker
Anglo American PLC said Thursday that rough diamond sales by its
majority-owned De Beers Group were 4.8% lower in the tenth sales
cycle compared with the previous cycle, and that the sector
continues to face recovery risks from the continuing coronavirus
pandemic.
The diversified mining company said diamond sales in the tenth
cycle reflect positive consumer demand for diamond jewelry ahead of
the holiday season.
De Beers sold $440 million worth of diamonds in the tenth cycle
compared with $462 million in the ninth, and $426 million in the
tenth of 2019. There are 10 sales cycles each year.
Anglo American said sales for the tenth cycle are provisional
figures due to a change in the company's approach to diamond sales
because of pandemic-related movement restrictions around the globe.
The figures are based on expected sales between Dec. 7 and Dec.
16.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
December 17, 2020 02:43 ET (07:43 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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