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22 Dec 2021 | 07:32

Diamond sales at Anglo's De Beers fall in tenth cycle

(Sharecast News) - Anglo American said on Wednesday that the value of rough diamond sales at its De Beers unit fell in the tenth cycle of the year. The value declined to $332m from $438m in the ninth cycle, and $452m in the tenth cycle of last year.

De Beers chief executive officer Bruce Cleaver said: "Rough diamond demand and midstream sentiment continued to be positive in the final sales cycle of 2021, although as anticipated we saw some impact on sales ahead of the seasonal closure of polishing factories in southern Africa over the Christmas period.

"Nonetheless, despite the ongoing challenges of Covid-19, our rough diamond sales for the year are higher than what we saw in 2019 before the onset of the pandemic, and much higher than our sales in 2020. Consumer demand for diamond jewellery is continuing to perform very well over the key holiday period, so we head towards the new year with positive trading conditions and industry sentiment."
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