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Anglo American's De Beers sees strong demand for rough diamonds in fifth sale

"Overall sentiment is increasingly optimistic as we move towards the second half of the year," said Bruce Cleaver, chief executive of De Beers

Anglo American PLC -

Anglo American PLC (LON:AAL) saw strong demand for rough diamonds in De Beers Group’s fifth sales cycle of 2021.

"With demand for diamond jewellery in the key consumer markets of the US and China continuing to be positive, and midstream capacity in India returning, we have seen strong demand for rough diamonds during the fifth sales cycle,” said Bruce Cleaver, chief executive of De Beers Group.

“Overall sentiment is increasingly optimistic as we move towards the second half of the year and, while risks as a result of the global pandemic persist, we have been encouraged by the condition of the market."

De Beers sold a provisional US$470mln of rough diamonds in the fifth sale, covering the period June 7-22. It sold US$385mln in the fourth sale, revised upwards from US$380mln, and US$56mln in its fourth/fifth sales cycle of 2020.

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