Anglo-American said on Wednesday that its subsidiary, De Beers, reported a 11% decline in rough diamond sales in the ninth sales cycle of the year, compared with the previous cycle.
The industry has 10 sales cycles each year.
Anglo-American said De Beers sold $450-million (R7.7-billion) worth of diamonds in the ninth sales cycle, compared with $508-million in the eighth cycle and $438-million in the ninth cycle of 2021.
Bruce Cleaver, De Beers Group CEO, said: “We saw good demand for our rough diamonds during cycle nine with sales reflecting what is traditionally a quieter time for the diamond midstream ahead of polishing factories reopening in India following the Diwali holidays.”
Anglo-American owns 85% of De Beers Group, the world’s leading diamond company. The remaining 15% is owned by the government of Botswana.
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