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Anglo American sees 'steady' diamond demand in sixth sales cycle, warns of risks to consumer sentiment

Kitco Media
By Vladimir Basov
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(Kitco News) - On Wednesday, global miner Anglo American announced that the provisional value of rough diamond sales for De Beers' sixth sales cycle of 2022 amounted to $630 million, higher than the sixth sales cycle of 2021 ($514 million) and lower than the previous cycle ($657 million).

The company said that following a period of consistently robust demand in the first half, it continued to see steady demand for De Beers rough diamonds in the sixth sales cycle of the year.

"However, the diamond industry continues to adopt a watchful approach in light of the risks to consumer sentiment presented by macroeconomic challenges," the company noted in its 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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Kitco Media

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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