29th Jan 2020 08:18
(Alliance News) - Anglo American PLC on Wednesday reported a notable increase in the value of rough diamond sales for De Beers in the first 2020 sales cycle.
The miner, which is dual-listed on the London and Johannesburg stock exchanges, said the value of rough diamond sales in the first 2020 cycle totalled USD545 million. This figure includes global sightholder sales and auctions.
The USD545 million provisional figure is 9.0% higher than the USD500 million actual figure for first cycle of 2019 and 28% higher than the USD426 million actual figure for the tenth 2019 cycle.
De Beers Chief Executive Bruce Cleaver said: "Demand for rough diamonds increased during the first sight of 2020 following the end of year selling season and subsequent inventory restocking."
In London, Anglo American shares were up 0.4% at 2,061.00 pence on Wednesday morning. In Johannesburg, meanwhile, shares were 0.7% higher at ZAR392.15.
By Anna Farley; [email protected]
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