Diamond sales at Anglo's De Beers rise in eighth cycle

Anglo American said on Tuesday that the value of rough diamond sales at its De Beers unit rose in the eighth cycle of 2020, amid an improvement in demand.

The value increased to $467m from $334m in the seventh cycle and $297m in the eighth cycle of last year.

De Beers chief executive officer Bruce Cleaver said: "We continue to see a steady improvement in demand for rough diamonds in the eighth sales cycle of the year, with cutters and polishers increasing their purchases as retail orders come through ahead of the key holiday season.

"It's encouraging to see these demand trends, but these are still early days and there is a long way to go before we can be sure of a sustained recovery in trading conditions."