Anglo American faces complications in its De Beers sale plan due to diamond market challenges.
Anglo American faces complications in its plan to sell De Beers due to persistent diamond market challenges. The miner is considering further diamond production cuts amid weak demand and excess stock. This comes as part of a restructuring plan where Anglo aims to exit diamond mining by spinning off or selling its De Beers unit, as well as separating platinum and selling its coal mines. The company maintained its production target for De Beers but is exploring options to reduce output further, adding to the already implemented production cuts of about 10%.
July 18, 2024
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