By Anthony O. Goriainoff

 

Anglo American PLC said on Wednesday that the rough diamond sales value for De Beers' seventh sales cycle of 2021 was $515 million compared with $334 million for the year-prior equivalent.

The FTSE 100 mining company said that due to the global restrictions stemming from the coronavirus pandemic, De Beers has slightly extended the sales cycle beyond its normal week-long duration, and that the provisional rough diamond sales figure represents the expected sales value for the Aug. 23 to Sept. 7 period. There are 10 sales cycles each year.

The company said the sales figure remains subject to adjustments based on final completed sales.

Sales for the sixth cycle were $514 million, the company said.

"As we now head towards a traditionally slower period for rough-diamond sales, we remain cognizant of the risks to economic recovery from the global pandemic," De Beers Chief Executive Bruce Cleaver said.

 

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

 

(END) Dow Jones Newswires

September 08, 2021 02:35 ET (06:35 GMT)

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