Top Movers

De Beers diamond sales fall on sluggish China recovery

By Frank Prenesti

Date: Wednesday 17 May 2023

(Sharecast News) - Rough diamond sales at Anglo American's De Beers unit fell to $480m in the fourth cycle of the year compared to $542m in the previous cycle as the Chinese economy rebounded sluggishly, the company said on Wedesday.
Sales were also significantly lower than sales of $604m achieved in the fourth cycle of the previous financial year.

De Beers chief executive Al Cook said the lower sales were also influenced by "ongoing macroeconomic uncertainty and a slower pace of recovery in consumer demand from China than was widely anticipated".


Email this article to a friend

or share it with one of these popular networks:

Top of Page