Anglo American is reportedly contemplating the sale of De Beers, according to unnamed sources cited in a Wall Street Journal (WSJ) article.
Potential bidders' identities could not be ascertained
However, the article stated that Anglo had engaged in discussions with prospective buyers, including Gulf sovereign wealth funds and luxury houses, in recent weeks.
“Anglo has signalled to potential suitors that it is open to offers,” reads the article.
The WSJ also noted that the discussions are still in their infancy, and a valuation has not been deliberated upon.
The recent underperformance of the diamond group can be attributed to the failure of the global diamond market to rebound as anticipated in terms of sales volumes and prices.
De Beers recently lowered its production forecast for 2024 to between 26 million and 29 million carats.
Anglo chief executive Duncan Wanblad said in February that the organisation's asset portfolio was undergoing a "systematic" examination in which everything is possible.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
