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Anglo American PLC - De Beers rough diamond sales cycle 8, 2020

RNS Number : 9769B
Anglo American PLC
14 October 2020
 

 

 

14 October 2020

Anglo American rough diamond sales value for De Beers' eighth sales cycle of 2020

 

Anglo American plc announces the value of rough diamond sales (Global Sightholder Sales and Auctions) for De Beers' eighth sales cycle of 2020, amounting to $467 million.

 

Cycle 8 2020(1)

(provisional)

Cycle 7 2020(2)

(actual)

Cycle 8 2019

 (actual)

Sales value(3)

$467m

$334m

$297m

 

(1)     Cycle 8 2020 provisional sales value represents sales as at 9 October 2020

(2)     Cycle 7 2020 actual sales value represents sales between the dates of 19 August and 10 September.

(3)     Sales values are quoted on a consolidated accounting basis. Auction sales included in a given cycle are the sum of all sales between the end of the preceding cycle and the end of the noted cycle.

 

Owing to the restrictions on the movement of people and products in various jurisdictions around the globe, De Beers Group has continued to implement a more flexible approach to rough diamond sales during the eighth sales cycle of 2020, with the sight event extended beyond its normal week-long duration. As a result, the provisional rough diamond sales figure quoted for Cycle 8 represents the expected sales value for the period 21 September to 9 October and remains subject to adjustment based on final completed sales.

 

Bruce Cleaver, CEO, De Beers Group, said: "We continue to see a steady improvement in demand for rough diamonds in the eighth sales cycle of the year, with cutters and polishers increasing their purchases as retail orders come through ahead of the key holiday season. It's encouraging to see these demand trends, but these are still early days and there is a long way to go before we can be sure of a sustained recovery in trading conditions."

 

 

For further information, please contact:

 

Media

 

Investors

UK

James Wyatt-Tilby

[email protected]

Tel: +44 (0)20 7968 8759

 

Marcelo Esquivel

[email protected]

Tel: +44 (0)20 7968 8891

 

Katie Ryall

[email protected]

Tel: +44 (0) 20 7988 8935

 

South Africa

Sibusiso Tshabalala

[email protected]

Tel: +27 (0) 11 638 2175

 

Nomonde Ndwalaza

[email protected]

Tel: +27 (0) 11 638 0228

 

UK

Paul Galloway

[email protected]

Tel: +44 (0)20 7968 8718

 

Robert Greenberg

[email protected]

Tel: +44 (0)20 7968 2124

 

Emma Waterworth

[email protected]  

Tel: +44 20 7968 8574

 

 

 

 

 

 

Notes to editors:

 

Anglo American is a leading global mining company and our products are the essential ingredients in almost every aspect of modern life. Our portfolio of world-class competitive operations, development projects and undeveloped resources, provides many of the metals and minerals that enable a cleaner, greener, more sustainable world and that meet the fast growing consumer-driven demands of developed and maturing economies. With our people at the heart of our business, we use innovative practices and the latest technologies to mine, process, move and market our products to our customers - and to discover new resources - safely and sustainably.

 

As a responsible 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 - we are committed to being carbon neutral across our operations by 2040. We work together with our business partners and diverse stakeholders to unlock sustainable value from precious natural resources for the benefit of the communities and countries in which we operate, for society as a whole, and for our shareholders. Anglo American is re-imagining mining to improve people's lives.

www.angloamerican.com

 

     

 

Legal Entity Identifier: 549300S9XF92D1X8ME43

 

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