Diamond sales at Anglo’s De Beers rise in fifth cycle

Anglo American said on Wednesday that the value of rough diamond sales at its De Beers unit rose in the fifth sales cycle of the year.

The value increased to $470m from $385m in the fourth cycle.

De Beers chief executive Bruce Cleaver said: "With demand for diamond jewellery in the key consumer markets of the US and China continuing to be positive, and midstream capacity in India returning, we have seen strong demand for rough diamonds during the fifth sales cycle.

"Overall sentiment is increasingly optimistic as we move towards the second half of the year and, while risks as a result of the global pandemic persist, we have been encouraged by the condition of the market."