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Anglo American PLC on Wednesday said the value of rough diamond sales at its De Beer arm fell in the seventh sales cycle of 2023. In the period from 14 August to 29 August, the London-based mining company said De Beers rough diamond sales fell 10% to $370 million from $411 million in the sixth sales cycle of 2023. Sales were also down 42% from $638 million in the seventh sales cycle of 2022. Figures for the seventh sales cycle of 2023 are provisional and subject to adjustment based on final completed sales. De Beers Chief Executive Officer Al Cook said: ‘With the prevailing economic environment leading to softer end client demand for diamond jewellery in key consumer markets, and the traditionally lower levels of midstream trading during the summer period, sightholders continued to take a prudent approach to their purchasing during the seventh sales cycle of the year.’ Shares in Anglo American were up 0.7% to 2,106.50 pence each at the open in London on Wednesday, and up 1.3% at R 493.95 in Johannesburg. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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