Anglo American plc has announced the value of rough diamond sales for De Beers' seventh sales cycle of 2023, amounting to $370 million. This is a decrease from the previous sales cycle, which had a value of $411 million. The sales figure for Cycle 7 is provisional and subject to adjustment based on final completed sales. The CEO of De Beers, Al Cook, attributed the decrease in sales to softer end client demand for diamond jewelry in key consumer markets and lower levels of midstream trading during the summer period.
Anglo American is a leading global mining company that produces copper, nickel, platinum group metals, diamonds (through De Beers), and premium quality iron ore and steelmaking coal. The company is committed to being carbon neutral across its operations by 2040 and has a Sustainable Mining Plan in place to ensure a healthy environment, thriving communities, and trust as a corporate leader. Anglo American aims to unlock enduring value from natural resources for the benefit of the communities and countries in which it operates.
This news release includes forward-looking statements, which involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from future results expressed or implied by the statements. Factors that could affect Anglo American's results include levels of actual production, global demand and commodity market prices, operational capabilities, safety incidents, litigation or regulatory proceedings, and economic conditions.