Anglo's De Beers diamond sales up 26% in third cycle

Rough-diamond sales at Anglo American’s De Beers Group rose 26% year on year in the third sales as the company warned of the impact of the war in Ukraine and Covid lockdowns in China.

The company on Wednesday said De Beers sold $565m of diamonds in the period, compared with $450m a year ago and $652m in the second cycle of 2022.

"As we head into the seasonally slower second quarter of the year, diamond businesses are adopting a more cautious and watchful approach in light of the war in Ukraine and associated sanctions, as well as Covid-19 lockdowns in China," said De Beers chief executive Bruce Cleaver.