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(Kitco News) - On Wednesday, Anglo American announced that the provisional value of rough diamond sales for De Beers' fourth sales cycle of 2023 amounted to $480 million, lower than the fourth sales cycle of 2022 ($604 million) and lower than the previous cycle ($542 million).
In a press release, the company said that sales of its rough diamonds in the fourth sales cycle of the year saw a small decrease from the previous cycle as the industry has entered “what is traditionally a seasonally quieter” period.
Anglo American added that rough diamond demand was also influenced by ongoing macroeconomic uncertainty and a slower pace of recovery in consumer demand from China than was widely anticipated.
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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