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Anglo American Writes Down De Beers by $2.9 Billion Amid Market Challenges

Summary by Africa.com

Anglo American has reduced the value of its diamond subsidiary, De Beers, by $2.9 billion, marking the second consecutive year of such writedowns. This adjustment reflects ongoing challenges in the diamond industry, including the rise of lab-grown diamonds and decreased consumer spending in China. Consequently, Anglo American reported a net loss of $3.1 billion in… Read More »Anglo American Writes Down De Beers by $2.9 Billion Amid Market Challe…

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Africa.com

Anglo American Writes Down De Beers by $2.9 Billion Amid Market Challenges

21 hours ago

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thevoicebw.com

De Beers slashes 2025 production target

As the diamond market continues to struggle with weaker demand, De Beers has cut its 2025 production target by 40%, reducing output to between 20 million and 23 million carats. The move shows little optimism for a significant recovery in the diamond market this year, due to the continuing difficult conditions which were experienced last year. De Beers- 85% owned by Anglo American, will also book impairment in its 2024 numbers after assessing th…

2 days ago

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