By Christian Moess Laursen
Anglo American said Wednesday that the value of rough diamond sales for De Beers' fourth sales cycle of 2023 fell to $480 million from $604 million in the prior-year's fourth cycle.
The FTSE 100-listed diversified mining group said the sales also fell sequentially from $542 million in the previous cycle, as the industry has entered a traditionally weaker season.
There are 10 sales cycles each year.
"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," De Beers Chief Executive Al Cook said.
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
05-17-23 0235ET