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JOHANNESBURG - Diversified mining group Anglo American said on Tuesday the value of rough diamond sales for its subsidiary De Beers’ first sales cycle of 2018 amounted to $665 million compared with $729 million over the same period last year.

"Following positive early signs for diamond jewellery sales over the holiday season in the US, the need for the industry to restock led to increasing demand for our rough diamonds in the first sales cycle of 2018," De Beers CEO Bruce Cleaver said.

"This seasonal restocking demand does usually see a larger share of annual purchases being planned into the first sales cycle of the year by our customers, resulting in an encouraging sales performance."

- African News Agency