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Anglo American said on Thursday its diamond subsidiary De Beers saw sales fall almost 15% to $380 million (R7 billion) in its fourth sales cycle relative to the third, also dropping just over a fifth year-on-year.
“As expected, De Beers’ rough diamond sales in the fourth cycle of the year trended lower, in line with the seasonally slower second quarter and a quieter period of trading in India during the elections,” CEO Al Cook said in a statement.
“The focus of the global diamond industry now turns towards the JCK jewellery show in Las Vegas at the end of May. Demand trends in the US are expected to be driven by short term macroeconomic issues but supported in coming years by a recovery in engagements as the after-effects of pandemic lockdowns fade.”
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