Anglo American Cuts 2020 Diamond Forecast

(IDEX Online) - Anglo America, parent company of De Beers Group, has cut its diamond production forecast for 2020 to 32-34 million carats. Previously, output for full year 2020 was anticipated to be 33-35 million carats.

The company announced the reduction during an investor update call.

De Beers' production forecast for 2021 has also been reduced to an estimated 24-36 million carats, down from 35-37 million carats. 

Year-do-date, Anglo American's revenue for 2019 is down 26 percent year-over-year due to lower volumes, mix and price index.