Anglo American's De Beers Diamond Sales Boosted by U.S Holiday Season, India Import Restart
By Ian Walker
Anglo American said rough-diamond sales by its majority-owned De Beers Group more than doubled in the first cycle of the year compared with the earlier cycle due to solid demand in the U.S. over the holiday season and the restart of rough diamond imports into India.
The FTSE 100 diversified mining company said Wednesday that De Beers sold $370 million of diamonds in the first sales cycle of the year compared with $137 million in the 10th cycle and $454 million in the first cycle of 2023. There are 10 sales cycles each year.
De Beers Chief Executive Al Cook said that despite the increase in demand, it could take some time for rough diamond demand to fully recover given the uncertain prospects for economic growth in many major economies.
Anglo American said the sales figures are provisional as at Jan. 30
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
January 31, 2024 02:44 ET (07:44 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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