Anglo American: De Beers' Cycle 4 Rough Diamond Sales Fall 11%

By Ian Walker Features Dow Jones Newswires

Anglo American PLC (AAL.LN)'s majority-owned De Beers Group Tuesday reported an 11% fall in diamond sales during the fourth cycle of the year compared with the third cycle, but said it continues to see steady demand despite the industry entering a typically quieter season.

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De beers' Chief Executive Bruce Cleaver said sentiment remains positive as the company heads towards the important Las Vegas trade show in early June.

De Beers, the world's largest rough diamond producer by value, reported provisional diamond sales of $520 million for the fourth sales cycle ended May 15, compared with $586 million generated in the previous sales cycle. Sales for the fourth cycle of 2016 were $636 million.

-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

(END) Dow Jones Newswires

May 16, 2017 03:37 ET (07:37 GMT)