Rough diamond sales drop at Anglo American's De Beers

Sales at Anglo American’s De Beers diamond business fell in the eighth sales cycle of the year, in line with the group’s expectations.

Anglo said on Tuesday that sales of rough diamonds declined to $370m from $507m in the seventh cycle and $494m in the eighth cycle of 2016.

De Beers chief executive officer Bruce Cleaver said: "De Beers offered fewer rough diamonds for sale in Cycle 8, reflecting the concurrent timing this year of the Sight sale with the closure of polishing factories in India and Israel for the observance of religious holidays. Sales were in line with expectations, at what is a seasonally slower time for rough diamond demand."