De Beers reduces rough diamond sales plunge in ninth cycle of 2023
Global mining group Anglo American has announced that the provisional value of rough diamond sales for De Beers’ ninth sales cycle of 2023 amounted to $80M, lower than the ninth sales cycle of 2022 ($454M) and lower than the previous cycle ($200M).
In a press release, the company said that De Beers reduced its rough diamond availability in the ninth sales cycle of 2023 as macro-economic challenges continue to affect the diamond sector.
Al Cook, CEO of De Beers, commented, “Macro-economic challenges continue to affect the diamond sector. The retail recovery in China remains slow. And the voluntary import moratorium on rough diamonds into India will see extended Diwali holidays and factory closures in the world’s largest diamond cutting centre.
“In recognition of these conditions, De Beers continued with reduced rough diamond availability in the ninth sales cycle of 2023.”
Anglo American is a producer of diamonds (through De Beers), copper, platinum group metals, premium quality iron ore and steelmaking coal, and nickel, with crop nutrients in development.
