Tuesday, June 4, 2024
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Anglo reports latest value of rough diamonds sold by De Beers

Anglo American has disclosed the value of rough diamond sales for De Beers’ second sales cycle of 2024, totaling US$430 million.

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The reported figure for Cycle 2 encompasses both Global Sightholder Sales and Auctions and is considered provisional, subject to potential adjustments based on finalized sales outcomes.

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Al Cook, CEO of De Beers, commented on the recent sales performance, noting a positive uptick in demand for De Beers rough diamonds. However, Cook highlighted prevailing economic uncertainties in the United States, which have prompted retailers to adopt a cautious approach to restocking following the 2023 holiday season. While there is a growing consumer appetite for diamond jewelry in India, demand in China remains subdued. Cook emphasized expectations for a gradual recovery in rough diamond demand throughout the year.

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