Anglo American PLC De Beers rough diamond sales cycle 8, 2017 (7424T)

TIDMAAL

RNS Number : 7424T

Anglo American PLC

17 October 2017

 
 
17 October 2017 
Anglo American rough diamond sales value for 
De Beers' eighth sales cycle of 2017 
 
 

Anglo American plc announces the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for De Beers' eighth sales cycle of 2017, amounting to $370 million.

Bruce Cleaver, CEO of De Beers, said: "De Beers offered fewer rough diamonds for sale in Cycle 8, reflecting the concurrent timing this year of the Sight sale with the closure of polishing factories in India and Israel for the observance of religious holidays. Sales were in line with expectations, at what is a seasonally slower time for rough diamond demand."

 
                 Cycle 8 2017(1)  Cycle 7 2017(2)  Cycle 8 2016 (actual) 
                  (provisional)       (actual) 
---------------  ---------------  ---------------  --------------------- 
Sales value(3)        $370m            $507m               $494m 
---------------  ---------------  ---------------  --------------------- 
 
   (1)     Cycle 8 2017 provisional sales value represents sales as at 16 October 2017. 

(2) Cycle 7 2017 actual sales value is restated following the earlier publication of a provisional figure for the seventh sales cycle of 2017.

   (3)     Sales values are quoted on a consolidated accounting basis and are before capitalisation of pre-commercial production revenues at Gahcho Kué. Auction Sales included in a given cycle are the sum of all sales between the end of the preceding cycle and the end of the noted cycle. 

For further information, please contact:

 
 Media                                     Investors 
 UK                                        UK 
  James Wyatt-Tilby                         Paul Galloway 
  [e-mail]       [e-mail] 
  Tel: [phone]                  Tel: [phone] 
  Marcelo Esquivel                          8718 
  [e-mail]        Trevor Dyer 
  Tel: [phone]                  [e-mail] 
  South Africa                              Tel: [phone] 
  Pranill Ramchander                        8992 
  [e-mail]      Sheena Jethwa 
  Tel: [phone]                   [e-mail] 
  Ann Farndell                              Tel: [phone] 
  [e-mail]            8680 
  Tel: [phone] 
 
 

Notes to editors:

Anglo American is a globally diversified mining business. Our portfolio of world-class competitive mining operations and undeveloped resources provides the raw materials to meet the growing consumer-driven demands of the world's developed and maturing economies. Our people are at the heart of our business. It is our people who use the latest technologies to find new resources, plan and build our mines and who mine, process and move and market our products to our customers around the world.

As a responsible miner - of diamonds (through De Beers), copper, platinum and other precious metals, iron ore, coal and nickel - we are the custodians of what are precious natural resources. We work together with our key partners and stakeholders to unlock the long-term value that those resources represent for our shareholders and for the communities and countries in which we operate - creating sustainable value and making a real difference.

www.angloamerican.com

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October 17, 2017 03:00 ET (07:00 GMT)