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Anglo American sees 'solid' post-holiday demand for rough diamonds

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(Kitco News) - Anglo American, a leading diversified global mining company, announced Wednesday that the value of rough diamond sales for De Beers' third sales cycle of 2021 amounted to $440 million.

The company said that owing to the restrictions on the movement of people and products in various jurisdictions around the globe, De Beers Group has continued to implement a more flexible approach to rough diamond sales during the third sales cycle of 2021, with the sight event extended beyond its normal week-long duration.

As a result, the provisional rough diamond sales figure quoted for cycle 3 represents the expected sales value for the period 22 March to 6 April and remains subject to adjustment based on final completed sales.

The company added that it has again seen a solid demand for rough diamonds even though the traditionally quieter period of the year for the diamond industry has already begun.

CEO of De Beers Group Bruce Cleaver commented, "Sales were in line with expectations and both market sentiment and overall industry conditions remain positive. However, with pandemic developments in Europe and Mumbai's recent lockdown resulting in the Bharat Diamond Bourse being closed, it is clear that we will continue to see challenges relating to Covid-19."

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