De Beers Rough Diamond Sales Cycle 1 2016

RNS Number : 9434M

Anglo American PLC

26 January 2016

 

26 January 2016
Anglo American rough diamond sales value for De Beers' first sales cycle of 2016

Anglo American plc announces the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for De Beers' first sales cycle of 2016. Rough diamond sales during the first cycle of the year improved significantly to $540 million, compared with the $248 million value of the final sales cycle of 2015.

	Cycle 1 2016(1)	Cycle 10 2015
Sales value(2)	$540m	$248m

(1)     Cycle 1 2016 provisional sales value represents sales as at 25 January 2016.

(2)     Sales value is quoted in terms of sales by De Beers Global Sightholder Sales and De Beers Auction Sales, and reported 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.

A positive holiday season in the US from a retail perspective, low levels of rough diamond purchases by the midstream in the fourth quarter of 2015 and a subsequent reduction in manufacturing saw polished diamond stocks pull through the pipeline, resulting in firmer polished prices. Rough diamond demand broadened across the entire product range as cutting and polishing factories began to increase their activity.

Philippe Mellier, Chief Executive of De Beers Group, said: "We are encouraged by the result of the first sales cycle of 2016, and will keep working closely with our customers to deliver sustainable improvements in the diamond industry in 2016."

For further information, please contact:

Media		Investors
UK James Wyatt-Tilby Tel: [phone] Marcelo Esquivel Tel: [phone]		UK Paul Galloway Tel: [phone] Ed Kite Tel: [phone]
South Africa Pranill Ramchander Tel: [phone] Shamiela Letsoalo Tel: [phone]

Notes to editors:

Anglo American is a global and diversified mining business that provides the raw materials essential for economic development and modern life. Our people are at the heart of our business. It is our people who use the latest technologies to find new resources, plan and build our mines and who mine, process and move and market our products - from bulk commodities and base metals to precious metals and diamonds (through De Beers) - to our customers around the world. Our diversified portfolio of products spans the economic development cycle and, as a responsible miner, we are the custodians of precious resources. We work together with our key partners and stakeholders to unlock the long-term value that those resources represent for our shareholders, but also for the communities and countries in which we operate - creating sustainable value and making a real difference. Our mining operations, growth projects and exploration and marketing activities extend across southern Africa, South America, Australia, North America, Asia and Europe.

www.angloamerican.com

 

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