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Anglo American sees steady diamond demand in eighth sales cycle of 2022

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(Kitco News) - On Wednesday, Anglo American announced that the provisional value of rough diamond sales for De Beers' eighth sales cycle of 2022 amounted to $500 million, higher than the eighth sales cycle of 2021 ($492 million) and lower than the previous cycle ($638 million).

In its statement, the company said that demand for its rough diamonds during sales cycle 8 was in line with expectations “ what is a traditionally quieter time of year for the diamond industry as polishing factories in India prepare for closures ahead of the Diwali holidays.”

“The steady overall demand for De Beers Group rough diamonds is reflected in the ongoing consumer demand for diamond jewellery ahead of the key holiday sales season in the US,” it added.

Anglo American is a leading producer of diamonds (through De Beers), copper, platinum group metals, the steelmaking ingredients of iron ore and metallurgical coal, and nickel - with crop nutrients in development and thermal coal operations planned for divestment.

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