Thursday, 20th February 2020

Anglo American said De Beers’ underlying adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) dropped 27% to $518 million in the first half of the year.

Demand for rough diamonds remains subdued as a result of challenges in the midstream with higher polished inventories, and caution due to macro-economic uncertainty, including the US –China trade tensions.

The group sold 15.5 million carats during the period under review, which was 13% weaker compared to the previous half. Its realised price eased 7% to $151 per carat in the first half of the year.

De Beers’ production also dropped 11% on a year-to-year basis to 15.6 million carats during the period under review. 

Anglo American recently revised downwards the production guidance of De Beers for the year to about 31 million carats from the previous range of 31-33 million carats, in response to weaker trading conditions.


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