Image credit: De Beers Group
The recovery, it said, was hinged on a reduction in rough diamond supply coupled with a recovery in demand from the diamond trade following sharp de-stocking of diamonds from the retail pipeline during 2018 and 2019 in the US in particular.
Group chief executive Mark Cutifani, however, said that De Beers had no plans of supplying more rough diamonds into the market.
"We think the supply situation will be the key and we are going to watch that very carefully. We will not push more production out there unless we are comfortable that prices are going to increase," he was quoted as saying by MiningMx during an investor update conference.
Anglo has maintained its production forecast for the current 2020 financial year at 26 million carats but has reduced the 2021 guidance to between 33 million and 35 million carats from the previous estimate of 34 million to 36 million carats.
It also lowered its 2022 estimate to between 30 million and 33 million carats from the previous 33 million to 35 million carats.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
