De Beers encouraged by latest auction sales, but remains cautious
De Beers said it had sold $520m of rough cut diamonds in the sixth auction of the year compared with $564m in the previous sale.
Anglo American
2,244.00p
16:49 14/11/24
0.54%
12.00p
FTSE 100
8,071.19
16:49 14/11/24
n/a
n/a
FTSE 350
4,459.02
16:38 14/11/24
n/a
n/a
FTSE All-Share
4,417.25
16:54 14/11/24
n/a
n/a
Mining
10,475.37
16:38 14/11/24
-1.86%
-198.96
De Beers, owned by Anglo American, said the numbers were "encouraging".
Chief executive Bruce Cleaver said: "This is an encouraging sales performance for this point in the year, supported by positive sentiment from our customers. We maintain a cautious outlook for the remainder of 2016."
De Beers is 85% owned by Anglo with the Botswana government holding the rest. It produces about one third of the world's rough cut diamonds.