London—Anglo American is set to sell De Beers, the renowned diamond company, as part of a broader divestiture strategy that includes its platinum unit. The sale is expected to be completed by the end of 2025, according to Anglo CEO Duncan Wanblad.
During an online investor presentation, Wanblad detailed the company’s plans, stating, “We’re only just starting. There are potentially a number of pathways. All of them are on the table at the moment.” He highlighted De Beers’ significant value, describing it as “a great business, with fantastic assets and an exceptional brand.”
Wanblad noted that the sale process would involve exploring various options, including a trade sale or a demerger, in collaboration with one of their significant stakeholders, the government of Botswana. This partnership is crucial given Botswana’s substantial interest in De Beers.
