De Beers To Leave 17 Charterhouse St., HQ for Nearly a Century

World News
24/04/2016 15:58

De Beers, the world’s largest diamond company, is to leave its London headquarters after almost a century, as parent company Anglo American trims costs, reports Bloomberg. About 300 staff were told on Friday that they would be leaving 17 Charterhouse Street, from where De Beers once controlled the flow of diamonds around the world. Charterhouse Street became the centre of De Beers’ empire – and therefore the global diamond trade – in the early 1930s. The building no longer holds the company sights, which moved to Botswana in November 2013. Anglo American will now seek a buyer for the building as part of a wider restructuring as it seeks to raise $4 billion in asset sales to cut its debt burden. The century-old company is trying to engineer a turnaround after a slump in commodity prices. It plans to sell more than half its mines and wants to exit the iron ore and coal business to focus on its best assets - diamonds, platinum and copper. Staff will move from the high-security building, near London’s jewelery hub of Hatton Garden, to Anglo’s headquarters at Carlton House Terrace on the fringes of St James’s Park.