- Anglo American (OTCQX:AAUKF, OTCPK:AAUKY) says diamond sales at its majority-owned De Beers unit plunged to the lowest since 2017 during the latest sales cycle.
- De Beers - which reports on 10 sales cycles each year - says sales of rough diamonds fell 25% Y/Y to $415M in the fourth cycle of the year from $554M for the same cycle in 2018 and tumbled 29% from $581M in sales in the third cycle of 2019.
- "Cycle four saw lower rough-diamond sales against a backdrop of macroeconomic uncertainty, and as we enter a seasonally slower period for the industry with Indian factories closing temporarily for the traditional holiday period," De Beers CEO Bruce Cleaver says.