By Christian Moess Laursen

Anglo American said Wednesday that the value of rough diamond sales for De Beers' fourth sales cycle of 2023 fell to $480 million from $604 million in the prior-year's fourth cycle.

The FTSE 100-listed diversified mining group said the sales also fell sequentially from $542 million in the previous cycle, as the industry has entered a traditionally weaker season.

There are 10 sales cycles each year.

"Rough diamond demand was also influenced by ongoing macroeconomic uncertainty and a slower pace of recovery in consumer demand from China than was widely anticipated," De Beers Chief Executive Al Cook said.

Write to Christian Moess Laursen at christian.moess@wsj.com

(END) Dow Jones Newswires

May 17, 2023 02:35 ET (06:35 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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