18th Dec 2019 07:22
(Alliance News) - Anglo American PLC on Wednesday reported a slight recovery in diamond sales cycle-to-cycle, but the figure represented a double-digit drop compared to the prior year.
For the tenth cycle of 2019, the miner's De Beers unit reported diamond sales at USD425 million, up 6.3% from the actual USD400 million in the ninth cycle, but down 22% from USD544 million the same cycle a year before.
"Following continued polished diamond price stability in the lead-up to the final sales cycle of the year, we saw further signs of steady demand for rough diamonds during Sight 10," said Bruce Cleaver, chief executive officer of De Beers.
Shares in Anglo American were up 0.1% at ZAR413.45 on Wednesday in Johannesburg.
By Dayo Laniyan; [email protected]
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