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4 October 2016 |
Anglo American rough diamond sales value for De Beers' eighth sales cycle of 2016 |
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Anglo American plc announces the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for De Beers' eighth sales cycle of 2016, amounting to $485 million, compared with the $639 million value of the seventh sales cycle of 2016.
Bruce Cleaver, CEO of De Beers, said: "Demand for De Beers' rough diamonds in Cycle 8 continued to reflect the improved midstream trading environment compared with 2015. Our rough diamond sales were slightly ahead of expectation during the Cycle, given the normal seasonal demand patterns, the shorter than usual period between Sights 7 and 8, and the forthcoming holidays in some of the major diamond cutting centres."
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Cycle 8 2016(1) (provisional) |
Cycle 7 2016(2) (actual) |
Sales value(3) |
$485m |
$639m |
(1) Cycle 8 2016 provisional sales value represents sales as at 3 October 2016.
(2) Cycle 7 2016 actual sales value is restated following the earlier publication of a provisional figure for the seventh sales cycle of 2016.
(3) Sales value is quoted in terms of sales by De Beers Global Sightholder Sales and De Beers Auction Sales, and reported 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.
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Notes to editors:
Anglo American is a globally diversified mining business. Our portfolio of world-class competitive mining operations and undeveloped resources provides the raw materials to meet the growing consumer-driven demands of the world's developed and maturing economies. Our people are at the heart of our business. It is our people who use the latest technologies to find new resources, plan and build our mines and who mine, process and move and market our products - from diamonds (through De Beers) to platinum and other precious metals and copper - to our customers around the world.
As a responsible miner, we are the custodians of those precious resources. We work together with our key partners and stakeholders to unlock the long-term value that those resources represent for our shareholders, but also for the communities and countries in which we operate - creating sustainable value and making a real difference.
www.angloamerican.com
