Anglo American plc (LON: AAL) announced today the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for De Beers’ sixth sales cycle of 2019, amounting to $250 million.
Bruce Cleaver, CEO, De Beers Group, said:
“With ongoing macroeconomic uncertainty, retailers managing inventory levels, and polished diamond inventories in the midstream continuing to be higher than normal, De Beers Group provided customers with additional flexibility to defer some of their rough diamond allocations to later in the year. As a result, we saw a reduction in sales during the sixth cycle of 2019.”
| Cycle 6 2019(1)(provisional) | Cycle 5 2019(2)(actual) | Cycle 6 2018 (actual) | |
| Sales value(3) | $250m | $391m | $533m |
(1) Cycle 6 2019 provisional sales value represents sales as at 29 July 2019.
(2) Cycle 5 2019 actual sales value is restated following the earlier publication of a provisional figure for the fifth sales cycle of 2019.
(3) Sales values are quoted on a consolidated accounting basis. Auction Sales included in a given cycle are the sum of all sales between the end of the preceding cycle and the end of the noted cycle.
Anglo American is a leading global mining company and our products are the essential ingredients in almost every aspect of modern life. Our portfolio of world-class competitive mining operations and undeveloped resources provides the metals and minerals that enable a cleaner, more electrified world and that meet the fast growing consumer-driven demands of the world’s developed and maturing economies. With our people at the heart of our business, we use innovative practices and the latest technologies to discover new resources and mine, process, move and market our products to our customers around the world – safely, responsibly and sustainably.
As a responsible miner – of diamonds (through De Beers), copper, platinum group metals, iron ore, coal and nickel – we are the custodians of what are precious natural resources. We work together with our business partners and diverse stakeholders to unlock the sustainable value that those resources represent for our shareholders, the communities and countries in which we operate, and for society as a whole. Anglo American is re-imagining mining to improve people’s lives.
