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Anglo American posts rise in De Beers diamond sales
StockMarketWire.com
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Mining company Anglo American said the value of rough diamond sales at its De Beers unit had increased during the first cycle of 2021 to $650 million from $551 million seen in the same cycle a year earlier.
The figure compared with $452 million seen in the tenth cycle of 2020.
'With the midstream starting the year with low levels of rough and polished inventories, and following strong sales of diamond jewellery over the key holiday season in the US, we saw good demand for rough diamonds at the first cycle of the year as midstream customers sought to restock and to fill orders from retail businesses,' De Beers chief executive Bruce Cleaver said.
'Sales of rough diamonds are also being supported by expected demand ahead of Chinese New Year and Valentine's Day. While risks to recovery as a result of ongoing restrictions on the movement of both people and goods persist, we have been encouraged by demand conditions.'
Story provided by StockMarketWire.com
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