De Beers rough diamond sales cycle 2 2016

RNS Number : 5366Q

Anglo American PLC

01 March 2016

 

1 March 2016
Anglo American rough diamond sales value for De Beers' second sales cycle of 2016

Anglo American plc announces the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for De Beers' second sales cycle of 2016. Rough diamond sales during the second cycle of the year continued their positive trend to $610 million, compared with the $545 million value of the first sales cycle of 2016.

	Cycle 2 2016(1) (provisional)	Cycle 1 2016(2) (actual)
Sales value(3)	$610m	$545m

(1)     Cycle 2 2016 provisional sales value represents sales as at 29 February 2016.

(2)     Cycle 1 2016 actual sales value is restated following the earlier publication of a provisional figure for the first sales cycle of 2016.

(3)     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.

Rough diamond demand continues to show signs of improvement as excess inventory has continued to work through the system in recent months.

Philippe Mellier, Chief Executive of De Beers Group, said: "Retailer restocking after the end-of-year holiday season is supporting demand for polished diamonds and, in turn, we are seeing improved demand from the midstream for rough diamonds. However, we remain mindful of the need for a cautious approach as the recovery continues."

For further information, please contact:

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

Notes to editors:

Anglo American is a globally diversified mining business. Our portfolio of world-class competitive mining operations and undeveloped resources provides the raw materials to meet the growing consumer-driven demands of the world's developed and maturing economies. 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 diamonds (through De Beers) to platinum and other precious metals and copper - to our customers around the world.

As a responsible miner, we are the custodians of those 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.

www.angloamerican.com

 

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