Anglo American announced that the provisional value of rough diamond sales for De Beers' tenth sales cycle of 2022 amounted to $410 million. The company said that demand for its rough diamonds was in line with expectations, ahead of the normal seasonal closure of polishing factories in southern Africa.
Anglo American said on Wednesday that the tentative value of raw diamond sales for De Beers’ tenth sales cycle in 2022 was $410 million, which was higher than the tenth sales cycle in 2021 ($336 million) but lower than the preceding cycle ($454 million).
The company said in a statement that demand for its rough diamonds during the final sales cycle of 2022 was in line with expectations, despite the normal seasonal closure of polishing factories in southern Africa over the Christmas period, and that “sightholders are taking a cautious approach ahead of restocking after Christmas and the expected re-opening of the China market.”
De Beers Sold $410 Million In Diamonds
Anglo American is a multinational mining business that produces diamonds (through De Beers), copper, platinum group metals, high quality iron ore and steelmaking coal, and nickel, as well as agricultural fertilisers. By 2040, the corporation intends to be carbon neutral in all of its activities.
De Beers Group is a multinational firm that specialises in diamond mining, retail, trade, and industrial diamond manufacture. The firm operates open-pit, large-scale alluvial and coastal mining operations.
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