12th Apr 2016 07:06
LONDON (Alliance News) - Anglo American PLC on Tuesday said rough diamond sales for its De Beers unit rose in the third sales cycle against the second.
The miner said the value of rough diamond sales by De Beers in the third sales cycle hit USD660.0 million, up from USD617.0 million in the second sales cycle for 2016.
Anglo American said continued stability for polished diamond prices has supported a "reasonably positive environment" for rough diamond sales thus far in 2016.
"So far, 2016 has seen significantly stronger rough diamond demand than that experienced at the end of 2015 as the actions taken by the industry continue to have a positive effect. However, we are now moving into a part of the year where rough diamond demand has historically been lower as a result of seasonality, so we continue to adopt a prudent mind-set," said De Beers Chief Executive Philippe Mellier.
Shares in Anglo American were up 5.5% at 617.60 pence Tuesday morning, shortly after market open.
By Sam Unsted; [email protected]; @SamUAtAlliance
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