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23/07/2024 22:17Anglo American said on Monday it has agreed to sell two royalty assets to Taurus Funds Management for up to $195 million. One of these royalty assets is De Beers' royalty interest in the Onslow Iron Project in Australia. Taurus will buy this unit for $150 million.
De Beers' CEO Al Cook refers to the announcement of their Origin Strategy on 31 May and says that with this sale, they are taking another step in delivering their promise to streamline De Beers. "This means that we can focus our people, our resources and our capital on what we do best: diamonds", according to Al Cook.
31/05/2024 09:54In a surprising move, Botswana President Masisi yesterday left the country to join industry stakeholders at the 2024 JCK Las Vegas show. Botswana finds itself in the middle of a perfect storm of challenges: De Beers' parent company Anglo American recently became the target of potential take-over bids, which led to Anglo announcing plans to spin off its diamond business.
25/05/2024 08:39De Beers 4th sight cycle revenues totaled US$380m, a 21% drop from US$479m achieved in the 4th cycle of 2023 and -15% from sight n°3 this year, translating in a 17% decrease in revenues from sales (US$ 1.63bn this year vs US$1.97bn in 2023) year-to-date. The lower sales figures correspond with current market sentiment and add to the turbulence surrounding a potential sale of the diamond entity of Anglo American.
Photo credit: Anglo American Plc
14/05/2024 09:34Anglo American Plc is implementing strategic changes to unlock shareholder value and enhance returns. This includes exiting diamond, platinum, and coal mining operations, marking one of the most significant shake-ups in the company's 107-year history.
Key to this plan is the demerger or sale of its De Beers diamond business, alongside separating its Anglo American Platinum unit and divesting coking coal mines in Australia. Additionally, spending on a fertilizer mine project in England will be scaled back.
30/04/2024 09:46The Financial Times reports on the developing story of the unsolicited bid of Australia-listed BHP on London-listed mining conglomerate Anglo American, which includes the diamond mining branch De Beers, naming potential suitors. BHP's bid was rejected earlier this week by Anglo's board but says it is safe to assume BHP might counter with an improved proposal, while other candidates may well offer a competing bid.
25/04/2024 10:31According to Reuters, Australian mining giant BHP is contemplating a potential takeover of London-listed Anglo American, parent company of De Beers, news that is confirmed by Anglo American in a statement saying the bid is being reviewed.
22/12/2022 10:17Anglo American PLC said Wednesday that rough-diamond sales by its majority-owned De Beers Group fell in 2022's 10th sales cycle compared with the previous cycle.
The FTSE 100 mining company said De Beers sold $410 million worth of diamonds in the 10th sales cycle of the year compared with $454 million in the ninth cycle. In the 10th cycle of 2021, it sold $336 million worth of diamonds.
04/02/2020 17:03In a wide-ranging keynote address at the African Mining Indaba taking place this week in Cape Town, Anglo American CEO Mark Cutifani laid out his vision for the mining industry and the steps it must take to "connect the future of mining with emerging and next-generation societal values. These are the values of increased transparency, responsible technological innovation, sustainability and shared prosperity, all of which are emergent in our world and are shaping a very different future society."