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Anglo American sees ‘some positive trends' in diamond jewellery demand at the start of 2023

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(Kitco News) - On Wednesday, Anglo American announced that the provisional value of rough diamond sales for De Beers' second sales cycle of 2023 amounted to $495 million, lower than the second sales cycle of 2022 ($652 million) and higher than the previous cycle ($454 million).

In a statement, the company said that continued steady demand for rough diamonds is in line with its expectations for sales as the year progresses.

Al Cook, CEO, De Beers Group, commented, "In this, my first Sight update to the market, I am pleased to see continued steady demand for rough diamonds in line with our expectations for sales as the year progresses.

"For example, we know that Sightholders planned more of their purchases for later in 2023, given the economic uncertainty at the time they were taking their planning decisions at the end of 2022. It is also encouraging to see some positive trends in end client demand for diamond jewellery at the start of the year."

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.

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