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With Russian gold and diamonds off-limits due to sanctions
against companies, including Alrosa - the world's largest
producer of rough diamonds that competes with Anglo American's
unit De Beers, demand for rough diamonds has risen this year.
Russia is the world's biggest producer of natural diamonds,
according to the World Diamond Council..
"Combination of sanctions against Russia, decisions from a
number of U.S.-based jewellery businesses to apply their own
restrictions on purchases of Russian diamonds ... has the
potential to underpin continued robust demand for De Beers'
rough diamonds," the miner said.
Anglo American said it expects rough diamonds' full-year
production to be at 32 million-34 million carats, up from a
prior range of 30 million to 33 million carats.
The London-listed miner, however, reported a 9% fall in
second-quarter output on lower grades in copper and lack of
water availability in Chile, ramp-up of the Aquila longwall in
steelmaking coal as well as planned maintenance at the Minas-Rio
iron ore mine in Brazil.
Chile, the world's no. 1 copper producer and the no. 2 producer
of battery metal lithium, faces drought conditions that have
lasted more than a decade and impacted mining output.
(Reporting by Shanima A in Bengaluru; Editing by Vinay Dwivedi
and Sherry Jacob-Phillips)
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