De Beers diamond sales fall on sluggish China recovery

Rough diamond sales at Anglo American's De Beers unit fell to $480m in the fourth cycle of the year compared to $542m in the previous cycle as the Chinese economy rebounded sluggishly, the company said on Wedesday.

Sales were also significantly lower than sales of $604m achieved in the fourth cycle of the previous financial year.

De Beers chief executive Al Cook said the lower sales were also influenced by “ongoing macroeconomic uncertainty and a slower pace of recovery in consumer demand from China than was widely anticipated".