Timely shine for Anglo
An uptick in diamond sales will be good news for De Beers — and give Anglo some firepower to fend off BHP
12 December 2024 - 05:00
Early anecdotal evidence points to a “pleasing” improvement in polished diamond sales since Thanksgiving in the US. This will come as a major relief for Anglo American, which needs an improvement in the diamond market if its restructuring strategy is to be a success.
“Early indicators out of Thanksgiving sales — which can’t be relied on too much as we’re only 24 to 48 hours after — are that there have been pleasing sales as we move into Christmas,” said Clifford Elphick, CEO of Gem Diamonds, a UK-listed diamond miner operating in Lesotho...
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