Anglo American rough diamond sales dip year on year

Oliver Haill Sharecast | 20 Jun, 2017 10:45 - Updated: 11:45 | | |

Anglo American mining 285

Anglo American

1,432.00

17:17 20/10/17
0.07%
1.00
  • 7,523.23
  • 0.00%0.19
  • Max: 7,560.04
  • Min: 7,517.07
  • Volume: 0
  • MM 200 : n/a
17:18 20/10/17
  • 1,534.32
  • 0.29%4.43
  • Max: 1,535.85
  • Min: 1,528.94
  • Volume: 0
  • MM 200 : n/a
17:20 20/10/17
  • 17,544.38
  • -0.28%-49.07
  • Max: 17,903.87
  • Min: 17,408.07
  • Volume: 0
  • MM 200 : n/a
17:18 20/10/17
  • 4,180.73
  • 0.02%0.63
  • Max: 4,198.47
  • Min: 4,177.51
  • Volume: 0
  • MM 200 : n/a
17:18 20/10/17
  • 4,127.92
  • 0.02%0.71
  • Max: 4,144.79
  • Min: 4,124.99
  • Volume: 0
  • MM 200 : n/a
17:20 20/10/17

The value of Anglo American's rough diamond sales fell 6% year-on-year in the fifth De Beers sales cycle of 2017.

The FTSE 100 group, which earlier this month appointed ex ARM and Tesco board member Stuart Chambers as its new chairman, sold $530m worth of rough diamonds in the sales cycle, up 1.5% on the $522m from the fourth cycle of 2017 but down on the $564m from cycle-five last year.

De Beers chief executive Bruce Cleaver said: "Following positive feedback from the Las Vegas trade show, and in line with recent trends, we saw continued good demand for De Beers rough diamonds in the fifth sales cycle of the year."

The fifth cycle represents provisional sales values as at 19 June 2017, while the fourth cycle from 2017 was restated from the $520m provisionally published in May.

Anglo's diamond production is being boosted by the continued ramp-up of the Gahcho Kué diamond mine in Canada, which has added to its major mines in South Africa, Botswana and Namibia.

In the first quarter, diamond production was up 8% to 7.4m carats, helped by increases in response to improved demand for lower value goods in stock.

More news

20 Oct FX round-up: Dollar boosted by tax plans, pound rallies on Brexit hopes

President Donald Trump's tax reforms made the dollar the early story, before a sterling narrative took over as Brexit developments filtered through from the EU 27 in Brussels.

20 Oct President Trump wrongly links rise of UK crime to 'radical Islamic terror'

US President Donald Trump was accused of fuelling hate crimes after he said the UK crime rate was linked to "radical Islamic terror".

20 Oct Europe close: Stocks end near session lows despite US tax reform optimism

European stocks finished near their worst levels of the day despite optimism regarding prospects for the US economy.

20 Oct London close: Footsie ends flat as pound bounces back

London stocks finished the Friday session almost exactly flat despite encouraging noises emerging from Brussels mingled with optimism stateside over proposed tax reforms.

20 Oct Berenberg ups Cobham target but says premium valuation "unwarranted"

Despite Cobham share's outperformance over the past six months, Berenberg cautioned clients about the near-term strength of various of the firm's end-markets, alongside operational challenges that would require time to resolve and, for a time, scupper hopes that the dividend would be reinstated.

20 Oct Octagonal 'extremely pleased' as it reports record revenue and profits

Octagonal updated the market on its trading on Friday, based on the unaudited interim figures for the six months to 30 September for its wholly-owned subsidiary, Global Investment Strategy UK, saying it was “extremely pleased” with the record revenues and profits achieved.

20 Oct Marlowe trading in line as acquisitions integrate 'well'

Support services group Marlowe updated the market on its trading for the six months to 30 September on Friday, saying trading in the first six months of the financial year was in line with board expectations.

20 Oct Ncondezi agrees non-binding development offer with CMEC and GE

Ncondezi Energy announced on Friday that it has agreed - in principle - to the terms of a non-binding offer with China Machinery Engineering Corporation and General Electric South Africa to enter into exclusive negotiations to develop, construct and operate the integrated Ncondezi 300MW coal-fired power project and open pit coal mine in Tete, Mozambique.

20 Oct Virgin Money's growth prospects not reflected in share price, Barclays says

Analysts at Barclays Research believe Virgin Money's growth prospects are not reflected in the share price.

20 Oct Bacanora clears regulatory hurdle at Sonora lithium project

Lithium exploration and development company Bacanora Minerals announced on Friday that the environmental impact statement - the ‘manifestacion de impacto ambiental’ (MIA) - for its flagship Sonora Project in Mexico has been approved by SEMARNAT, the Environment Ministry of Mexico.