Anglo American says rough diamond sentiment remains steady

Anglo American saw a fall in rough diamond sales value from De Beers' fourth sales cycle of 2017, though the company was encouraged that demand remained at a steady level.

De Beers fourth rough diamond sales totalled $520m, down 18% compared to the $636m in cycle-four last year and down 11% on the third quarter of 2017.

Bruce Cleaver, De Beers' chief executive, said: "We are continuing to see steady demand for rough diamonds, despite the industry entering a typically quieter season.

"Sentiment remains positive as we head towards the important Las Vegas trade show in early June."

First quarter results from Anglo last month were boosted by the continued ramp-up of Gahcho Kué diamond mine in Canada, which has added to its major mines in South Africa, Botswana and Namibia.

Diamond production was up 8% to 7.4m carats in the peruod thanks to the contribution of Gahcho Kué and increases in response to improved demand for lower value goods in stock.