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Anglo American sees 'good' rough diamond demand in fourth sales cycle of 2022

Kitco Media
By Vladimir Basov
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(Kitco News) - Anglo American announced today that the provisional value of rough diamond sales for De Beers’ fourth sales cycle of 2022 amounted to $604 million, higher than the fourth sales cycle of 2021 ($385 million) and the previous cycle ($566 million).

The company said that it saw the continuation of good demand for its rough
diamonds during the fourth sales cycle of 2022, supported by strong consumer demand for diamond jewellery in the US.

However, Anglo American noted that rough diamond demand in the coming cycle will be affected as usual by the closure of many diamond polishing factories in India for the traditional May holidays.

“Meanwhile, diamond businesses are also continuing to closely monitor the effects of Covid-19-related lockdowns in China and the war in Ukraine and associated sanctions,” the company said in a press-release.

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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Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

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