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Anglo American PLC on Wednesday sales rough diamond sales fell in the most recent cycle, due to ongoing economic uncertainty and a slower pace of recovery in consumer demand in China. The London-based mining company said provisional rough diamond sales value for the fourth sales cycle of 2023 was $480 million, down 11% from $542 million in the third cycle and down 21% from $604 million in the fourth cycle last year. The provisional rough diamond sales figure quoted for cycle four represents the expected sales value for the period May 1 and May 16. Cycle three actual sales value took place between March 27 and April 11. ‘Sales of our rough diamonds in the fourth sales cycle of the year saw a small decrease from the previous cycle as the industry has entered what is traditionally a seasonally quieter period. Rough diamond demand was also influenced by ongoing macroeconomic uncertainty and a slower pace of recovery in consumer demand from China than was widely anticipated,’ De Beers Chief Executive Al Cook In Johannesburg, Anglo American shares were flat at R 559.26 in Johannesburg on Wednesday morning. But they were down 1.0% at 2,342.50 pence in London. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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