Anglo American's De Beers Diamond Sales Rose 26% in Third Cycle
13 Abril 2022 - 4:20AM
Dow Jones News
By Ian Walker
Anglo American PLC said Wednesday that rough-diamond sales by
its majority-owned De Beers Group rose 26% in 2022's third sales
cycle compared with the year-earlier third cycle, though it
cautioned about the impact on the industry from the war in Ukraine
as well as Covid-19-related lockdowns in China.
The FTSE 100 diversified mining company said De Beers sold $565
million of diamonds in the third sales cycle of the year, compared
with $450 million in the third cycle of 2021 and $652 million in
the second cycle of 2022. There are 10 sales cycles each year.
"As we head into the seasonally slower second quarter of the
year, diamond businesses are adopting a more cautious and watchful
approach in light of the war in Ukraine and associated sanctions,
as well as Covid-19 lockdowns in China," De Beers Group Chief
Executive Bruce Cleaver said.
Anglo American said sales are provisional figures due to a
change in the company's approach to diamond sales because of
pandemic-related movement restrictions around the world. The
figures are based on expected sales between March 28 and April
12.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
April 13, 2022 03:05 ET (07:05 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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