Diamond sales at Anglo's De Beers drop in seventh cycle

(Sharecast News) - Anglo American said on Wednesday that the value of rough diamond sales at its De Beers unit fell in the seventh cycle of the year amid lower inventory.
The value declined to $280m from $503m in the seventh cycle of last year, but was up from $250m in the sixth cycle of this year.

De Beers chief executive officer Bruce Cleaver said: "With midstream participants continuing to work down polished diamond inventory levels and reduced levels of manufacturing in the key cutting centres, De Beers Group provided customers with further supply flexibility during the seventh cycle of 2019."