Anglo Said to Be in Talks to Sell De Beers for About $1 B…

Anglo American Plc is in discussions to sell its De Beers diamond business for approximately $1 billion. This sale represents a significant reduction in value, considering De Beers was once a dominant player in the diamond industry. The company has been trying to divest De Beers since an unsuccessful $50 billion takeover attempt by BHP Group in early 2024. However, the process has been hampered by a downturn in the diamond market, leading to three impairments on De Beers, which decreased its carrying value to $2.3 billion in February.

Industries

FacebookXLinkedIn

EmailLink

Gift

FacebookXLinkedIn

EmailLink

GiftGift this article

Confidential tip?\ Send a tip to our reporters

Site feedback:\ Take our SurveyNew Window

FacebookXLinkedIn

EmailLink

Gift

By Thomas Biesheuvel, Antony Sguazzin, and William Clowes

July 29, 2026 at 10:53 AM UTC

BookmarkSave

Anglo American Plc is discussing a deal worth about $1 billion to sell its De Beers diamond business, just a fraction of what the one-time diamond monopoly was once worth.

Anglo has been looking to sell De Beers since it fended off an almost $50 billion approach from BHP Group in early 2024, yet its disposal process has been stymied by a crisis in the diamond market. Anglo has so far taken three impairments on De Beers in just three years, lowering its carrying value for the unit to $2.3 billion in February.

Read Original at Bloomberg.com →

Anglo Said to Be in Talks to Sell De Beers for About $1 Billion