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

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Sharecast News | 13 Nov, 2019

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

The value increased to $390m from $297m in the eighth cycle, but was down from $442m in the ninth cycle of last year.

De Beers chief executive officer Bruce Cleaver said: "With signs of increasing polished price stability, cycle 9 saw an improvement in sentiment from rough diamond buyers." He added that global consumer demand for diamond jewellery at the retail level continues to be broadly stable.

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