Diamond sales at Anglo American's De Beers fall in tenth cycle

The value of rough diamond sales at Anglo American’s De Beers unit fell in the tenth cycle of the year, the company said on Thursday.

The value declined to $440m from $462m in the ninth cycle, but was up from $426m in the tenth cycle of last year.

De Beers chief executive officer Bruce Cleaver said: "Positive consumer demand for diamond jewellery as we enter the holiday season is supporting the continuation of retail orders for polished diamonds from the diamond industry's midstream sector. This in turn supported steady demand for De Beers rough diamonds at our final sales cycle of 2020.

"While the diamond industry ends the year on a positive note, we must recognise the risks that the ongoing Covid-19 pandemic presents to sector recovery both for the rest of this year and as we head into 2021."