De Beers' rough diamond sales value cycle 1, 2017

RNS Number : 8932U

Anglo American PLC

24 January 2017

 

24 January 2017
Anglo American rough diamond sales value for De Beers' first sales cycle of 2017

Anglo American plc announces the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for De Beers' first sales cycle of 2017, amounting to $720 million.

Bruce Cleaver, CEO of De Beers, said: "We saw good demand across the majority of our assortment during the first sales cycle of the year, as the industry entered the period when rough diamond demand is traditionally strongest. The longer period between the final Sight of 2016 and the first Sight of 2017 also contributed to heightened demand during the cycle.

"While the reopening of some diamond polishing operations in India saw something of an increase in demand for smaller, lower quality rough diamonds, we maintain a cautious outlook for these categories as the Indian industry continues to adjust to the post-demonetisation environment."

	Cycle 1 2017(1) (provisional)	Cycle 10 2016(2) (actual)	Cycle 1 2016   (actual)
Sales value(3)	$720m	$422m	$545m

(1)     Cycle 1 2017 provisional sales value represents sales as at 23 January 2017.

(2)     Cycle 10 2016 actual sales value is restated following the earlier publication of a provisional figure for the tenth sales cycle of 2016.

(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.

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] Trevor Dyer [e-mail] Tel: [phone]
South Africa Pranill Ramchander [e-mail] Tel: [phone] Ann Farndell [e-mail] Tel: [phone]		Sheena Jethwa [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

 

END

 

 

MSCFMGZMNFGGNZM