Diamonds sales total US$380 million

Anglo American plc has announced that the value of rough diamond sales for De Beers’ fourth sales cycle of 2024, amounted to US$380 million.

The provisional rough diamond sales figure quoted for Cycle 4 represents the expected sales value for the period and remains subject to adjustment based on final completed sales.

Al Cook, CEO of De Beers, said: “As expected, De Beers’ rough diamond sales in the fourth cycle of the year trended lower, in line with the seasonally slower second quarter and a quieter period of trading in

India during the elections. The focus of the global diamond industry now turns towards the JCK jewellery show in Las Vegas at the end of May. Demand trends in the US are expected to be driven by short term macroeconomic issues but supported in coming years by a recovery in engagements as the after-effects of pandemic lockdowns fade.”

The company has a primary listing on the main market of the London Stock Exchange and secondary listings on the Johannesburg Stock Exchange, the Botswana Stock Exchange, the Namibia Stock Exchange and the SIX Swiss Exchange.

Anglo American is a producer of copper, nickel, platinum group metals, diamonds (through De Beers), and premium quality iron ore and steelmaking coal.

According to the Chamber of Namdeb’s land based production increased by 25% in 2022, as the operation achieved all of its production targets. The higher production target followed approval of the new business plan, which sees operations through to 2042. Production also introduced a 6th mining phase which contributed to the higher output. Namdeb produced 412 094 carats in 2022.

In terms of sea based operations, Debmarine Namibia produced 1,7 million carats, an increase of 52% from 2021, covering an area of 19,1 km². The increase in production was primarily driven by the introduction of the MV Benguela Gem.

The new recovery vessel, the MV Benguela Gem, was completed ahead of schedule; commissioning and ramp-up to full production was better than planned which resulted in additional carats produced for the year.

De Beers has operations in Botswana, Canada, Namibia and South Africa. In Namibia, diamonds are recovered from Namibia’s northern and southern coastal regions. Diamonds have been a fundamental part of Namibia’s economy for more than 100 years. They were discovered by a railroad worker named near Lüderitz in 1908, a discovery that prompted a diamond rush and set Namibia on the path of becoming a leading diamond nation.

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