28th Jun 2016 07:30
LONDON (Alliance News) - Anglo American PLC on Tuesday said the fifth sales cycle of rough diamonds for its De Beers diamond unit was slightly lower than the fourth.
Anglo American said the value of rough diamond sales from the fifth cycle was USD560.0 million, down from the USD636.0 million made in the fourth cycle.
"Sales in the fifth cycle of the year were somewhat lower than in the fourth cycle, in line with our expectations and typical seasonal demand patterns. Rough diamond demand and polished diamond prices remain stable, reflecting steady consumer demand, but we maintain a cautious outlook," said Philippe Mellier, De Beers' chief executive.
By Sam Unsted; [email protected]; @SamUAtAlliance
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