Select Page

Anglo American reports rise in De Beers diamond sales

Anglo American reports rise in De Beers diamond sales

Mining giant, Anglo American this week on the Namibian Stock Exchange (NSX) news platform announced that sales for De Beers for the fourth sales cycle amounted to US$550 million.

The mining giant in the statement reported an increase in its rough diamonds sold for De Beers, its 85% subsidiary which dominates the world diamond industry, during the fourth sales cycle of 2018.

Bruce Cleaver, CEO of De Beers, said, “In the fourth sales cycle of the year we saw robust demand for De Beers´ rough diamonds, reflecting continued strong demand for diamond jewellery, especially from American consumers as we head towards the important JCK Las Vegas trade show at the start of June.”

Meanwhile, Cycle 3 2018 actual sales value is restated following the earlier publication of a provisional figure for the third sales cycle of 2018.

According to the company sales values are quoted on a consolidated accounting basis and are before capitalisation of pre-commercial production revenues at Gahcho Kué.

Anglo American has a primary listing on the Main Market of the London Stock Exchange and secondary listings on the Johannesburg Stock Exchange, the Botswana Stock Exchange, the Namibia Stock Exchange and the SIX Swiss Exchange.


About The Author

The Staff Reporter

The staff reporter is the most senior in-house Economist reporter. This designation is frequently used by the editor for articles submitted by third parties, especially businesses, but which had to be rewritten completely. - Ed.