Anglo CEO Lays Out De Beers Sale Details
Mar 4th 2026
Anglo American CEO Duncan Wanblad said bidders for De Beers are mainly consortia and the sale could be split into parts, with a target to complete the transaction this year while De Beers may remain in the group until regulatory processes finish.
- Bidders for De Beers are consortia, some of which include governments, the CEO said.
- The sale could be split into two or three parts depending on negotiations in the coming weeks.
- Anglo is targeting a sale of De Beers this year and prefers to complete it before its merger with Teck, but the sale is not contingent on the Teck deal.
- If the Teck merger closes around September, De Beers will likely remain in the combined Anglo Teck portfolio until statutory and regulatory completion.
- Anglo took a $2.3 billion impairment on De Beers in 2025 after earlier writedowns of $2.9 billion in 2024 and $1.6 billion in 2023.
- De Beers posted 2025 revenue of $3.5 billion, recorded an underlying EBITDA loss of $511 million, saw production fall to 21.7 million carats, and reported average rough prices of $142 per carat.
- The business is under pressure from competition with lab-grown diamonds and a 10 percent US tariff on diamonds.