Anglo American : De Beers's Diamond Sixth Cycle Sales Boosted by US, China

By Ian Walker

Anglo American PLC said Wednesday that rough-diamond sales by its majority-owned De Beers Group were 6.9% higher in the sixth sales cycle of 2021 compared with the previous cycle, as it benefited from strong demand in the U.S. and China.

The diversified mining company said that the outlook remains positive for the second half of the year, based on the strength of diamond jewelry sales, subject to continued coronavirus-related impacts.

De Beers sold $510 million of diamonds in the sixth cycle of the year compared with $477 million in the fifth and $116 million for the sixth cycle last year. There are 10 sales cycles each year.

Anglo American said sales are provisional figures due to a change in the company's approach to diamond sales because of pandemic-related movement restrictions around the globe. The figures are based on expected sales between July 12 and July 27.

Write to Ian Walker at [e-mail]

(END) Dow Jones Newswires

07-28-21 0308ET