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Name | Symbol | Market | Type |
---|---|---|---|
Anglo American PLC (QX) | USOTC:NGLOY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.49 | -2.89% | 16.47 | 16.44 | 16.46 | 16.57 | 16.32 | 16.56 | 377,766 | 16:29:47 |
By Oliver Griffin
Anglo American PLC (AAL.LN) said Tuesday that its majority-owned De Beers Group experienced a fall in rough diamond sales for the fifth sales cycle of the year, citing a challenging environment in China and a cautious approach from rough-diamond buyers.
The diversified mining company said diamond producer De Beers--which reports on 10 sales cycles each year--sold $390 million of rough diamonds in the fifth cycle of the year compared with $581 million for the same cycle in 2018.
In the fourth cycle of 2019, De Beers sold $416 million of rough diamonds.
De Beers Chief Executive Bruce Cleaver said: "While overall retail sentiment for diamond jewelry in the U.S. remains solid, a more challenging environment in China and higher-than-normal polished-diamond inventories in the midstream resulted in a cautious approach from rough-diamond buyers during the fifth cycle of 2019."
Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin
(END) Dow Jones Newswires
June 25, 2019 02:26 ET (06:26 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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