REG - Anglo American PLC - De Beers rough diamond sales cycle 8, 2017 <Origin Href="QuoteRef">AAL.L</Origin>

Anglo AmericanAnnouncement

17/10/2017 08:01

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)
(provisional)
Cycle 7 2017(2)
(actual)
Cycle 8 2016 (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 Ku. 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
James Wyatt-Tilby
james.wyatt-tilby@angloamerican.com
Tel: +44 (0)20 7968 8759
Marcelo Esquivel
marcelo.esquivel@angloamerican.com
Tel: +44 (0)20 7968 8891
South Africa
Pranill Ramchander
pranill.ramchander@angloamerican.com
Tel: +27 (0)11 638 2592
Ann Farndell
ann.farndell@angloamerican.com
Tel: +27 (0)11 638 2786
UK
Paul Galloway
paul.galloway@angloamerican.com
Tel: +44 (0)20 7968 8718
Trevor Dyer
trevor.dyer@angloamerican.com
Tel: +44 (0)20 7968 8992
Sheena Jethwa
sheena.jethwa@angloamerican.com
Tel: +44 (0)20 7968 8680
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

This information is provided by RNS
The company news service from the London Stock Exchange
  END
UPDMFBFTMBTBBMR