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.

Visited 1 times, 1 visit(s) today

Stay ahead in the financial world – Sign Up to Rateweb’s essential newsletter for free. Get the latest insights on business trends, tech innovations, and market movements, directly to your inbox. Join our community of savvy readers and never miss an update that could impact your financial decisions.

Do you have a news tip for Rateweb reporters? Please email us at

Related

Personal Financial Tools

Below is a list of tools built to assist South Africans to make the best financial decisions:

Latest

Rateweb

South Africa’s primary source of financial tools and information

Contact Us

admin@rateweb.co.za

Disclaimer

Rateweb strives to keep its information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products, shopping products and services are presented without warranty. When evaluating offers, please review the financial institution’s Terms and Conditions.

Rateweb is not a financial service provider and should in no way be seen as one. In compiling the articles for our website due caution was exercised in an attempt to gather information from reliable and accurate sources. The articles are of a general nature and do not purport to offer specialised and or personalised financial or investment advice. Neither the author, nor the publisher, will accept any responsibility for losses, omissions, errors, fortunes or misfortunes that may be suffered by any person that acts or refrains from acting as a result of these articles.