By Jaime Llinares Taboada

 

Anglo American PLC on Wednesday reported an increase in diamond sales from its De Beers subsidiary for the fourth sales cycle of 2022.

The integrated mining company reported provisional sales of $604 million as at May 17, compared with $385 million in the fourth cycle of 2021. In the third cycle of 2022, which ran between March 28 and April 12, De Beers generated sales of $566 million.

There are 10 sales cycles each year.

"We saw the continuation of good demand for our rough diamonds during the fourth sales cycle of 2022, supported by strong consumer demand for diamond jewellery in the U.S. However, rough-diamond demand in the coming cycle will be affected as usual by the closure of many diamond polishing factories in India for the traditional May holidays," De Beers' Chief Executive Bruce Cleaver said.

 

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

 

(END) Dow Jones Newswires

May 18, 2022 02:45 ET (06:45 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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