Anglo American’s De Beers Reports $450M Rough Diamond Sales, Reflecting Cautious Industry Sentiment

  • Anglo American plc reports rough diamond sales value of $450 million (approximately 8.37 billion ZAR) for De Beers' fifth sales cycle of 2023.
  • The sales figure represents a slight decline compared to the previous cycle, reflecting cautious sentiment in the diamond industry due to ongoing global macroeconomic challenges.
  • The provisional sales value is subject to potential adjustments and represents sales made between June 5 and June 20, 2023.
Anglo American Rough Diamonds

Anglo American plc has disclosed the value of rough diamond sales for De Beers’ fifth sales cycle of 2023, totaling $450 million. The provisional figure represents sales made between June 5 and June 20 and is subject to potential adjustments based on finalized sales.

The latest sales cycle’s value indicates a slight decline compared to the fourth cycle of 2023. Ongoing global macroeconomic challenges have impacted end-client sentiment, leading to a more cautious diamond industry as it enters the summer season. Al Cook, CEO of De Beers, commented on the demand for De Beers rough diamonds during the fifth sales cycle, noting a slight softening compared to the previous cycle.

The breakdown of Anglo American’s rough diamond sales figures for De Beers’ fifth sales cycle, alongside corresponding values from the previous cycle and the same period in 2022, is as follows:

Cycle 5 2023 (provisional) Sales value: $450 million

Cycle 4 2023 (actual) Sales value: $479 million

Cycle 5 2022 (actual) Sales value: $657 million

It’s important to note the specifics regarding the reported sales figures. The provisional sales value for Cycle 5 2023 represents sales as of June 20, 2023. The actual sales value for Cycle 4 2023 represents sales made between May 1 and May 16. All sales values are quoted on a consolidated accounting basis, encompassing auction sales between the end of the preceding cycle and the end of the noted cycle.

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