NGLOY Anglo American PLC (QX)

By Joe Hoppe

Anglo American said Wednesday that rough-diamond sales for De Beers' fifth cycle of 2023 fell to a provisional $450 million from $657 million in the prior-year's fifth cycle.

The FTSE 100-listed diversified mining group said fifth-cycle sales also fell from $479 million in the fourth cycle of 2023 as the industry entered a traditionally weaker season.

There are 10 sales cycles each year. The figures for the fifth cycle represent sales as of June 20.

"Following the JCK Show, and with ongoing global macroeconomic challenges continuing to impact end-client sentiment, the diamond industry remains cautious heading into summer," De Beers Chief Executive Al Cook said.

Write to Joe Hoppe at joseph.hoppe@wsj.com

(END) Dow Jones Newswires

June 21, 2023 02:43 ET (06:43 GMT)

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