Weak demand takes sparkle out of Anglo American diamond output

[Pelican Press 0]

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Weak demand takes sparkle out of Anglo ********* diamond output

Anglo ********* is looking to cut more diamond production as the industry continues to struggles with weak demand and too much stock, and has signalled a further slump in profit for its platinum unit.

While Anglo maintained its production target for now at its De Beers unit, the company said it’s looking at how it can reduce output further. The continued poor performance of the diamond market will add to Anglo’s frustrations as it looks sell or separate the business.

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