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30 January 2018 |
Anglo American rough diamond sales value for De Beers' first sales cycle of 2018 |
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Anglo American plc announces the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for De Beers' first sales cycle of 2018, amounting to $665 million.
Bruce Cleaver, CEO of De Beers, said: "Following positive early signs for diamond jewellery sales over the holiday season in the US, the need for the industry to restock led to increasing demand for our rough diamonds in the first sales cycle of 2018. This seasonal restocking demand does usually see a larger share of annual purchases being planned into the first sales cycle of the year by our customers, resulting in an encouraging sales performance.
"In the equivalent sales cycle last year, sales levels benefitted from purchases that had been deferred from late in 2016 as a result of the initial impact at that time of India's demonetisation programme."
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Cycle 1 2018(1) (provisional) |
Cycle 10 2017(2) (actual) |
Cycle 1 2017 (actual) |
Sales value(3) |
$665m |
$455m |
$729m |
(1) Cycle 1 2018 provisional sales value represents sales as at 29 January 2018.
(2) Cycle 10 2017 actual sales value is restated following the earlier publication of a provisional figure for the tenth sales cycle of 2017.
(3) Sales values are quoted on a consolidated accounting basis and are before capitalisation of pre-commercial production revenues at Gahcho Kué. 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 to our customers around the world.
As a responsible miner - of diamonds (through De Beers), copper, platinum and other precious metals, iron ore, coal and nickel - we are the custodians of what are precious natural resources. We work together with our key partners and stakeholders to unlock the long-term value that those resources represent for our shareholders and for the communities and countries in which we operate - creating sustainable value and making a real difference.
www.angloamerican.com
