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...In response to speculation that Anglo could spin off its struggling diamond producing unit De Beers, Wanblad said it was “not specifically” something that it is considering....
...Diamond producers including De Beers’ arch-rival, Russia’s Alrosa, tried to curb the flow of gemstones into the market in the second half of last year....
...The FTSE 100 group confirmed writedowns of $1.6bn for De Beers, its diamond producing unit, and $800mn for its Barro Alto nickel mine in Brazil because of revised assessments over the longevity of weak prices...
...London-listed shares in Anglo American have been down by more than a third since the start of last year, putting its market capitalisation at £29bn, as the company’s De Beers diamond division and platinum...
...The company’s De Beers diamond division and platinum metals unit have been hit by low prices. Bloomberg first reported news that BHP was considering a potential takeover of Anglo American....
...One boost for De Beers is the lack of new diamond mines that have been discovered and developed in the past decade, which is likely to naturally constrain supply....
...Anglo-American’s De Beers, along with Russia’s Alrosa, control two-thirds of the rough diamond supply. DeBeers this week said its rough sales dropped 23 per cent in the first quarter....
...The FTSE 100 group booked a $1.6bn impairment charge on its De Beers diamond division as well as a writedown of $800mn for its Barro Alto nickel mine in Brazil after the metal’s price tumbled from record...
...De Beers, the world’s largest diamond producer by value, sold $110mn of diamonds in its tenth and final sale of 2023, down from $417mn a year earlier, while India halted imports of rough diamonds for two...
...Anglo American’s chief executive Duncan Wanblad has consistently defended both Amplats and diamond unit De Beers as having a bright future, even as he comes under pressure to take more radical action after...
...The 10-year sales agreement and 25-year licence awarded to De Beers to mine in Botswana keeps alive a 54-year-old partnership....
...De Beers relied on the nation for about 70 per cent of its rough diamond supply, or 24mn carats, last year....
...In addition, De Beers, the group’s diamond producer, and Anglo American Platinum have suffered because of a sharp plunge in prices, caused by the steep rise in interest rates and tepid demand in China....
...And some of the oldest, most traditional jewellers are now joining the lab-grown world: De Beers Group, one of the world’s largest natural diamond producers and distributors, launched lab-grown diamond brand...
...Mining analysts diverge on how deep the rift between Botswana and De Beers goes....
...Even diamond mining industry leader De Beers released its own synthetic gem engagement ring in June....
...The sector has consolidated rapidly over the past decade and concerns have grown that pet owners may be overpaying for medicines....
...Beers....
...The zinnias were in full flower and the white cosmos daisies were twice as tall as mine at home....
...There were other quirky details, such as a record player in the room with a selection of vinyls to play; other rooms have a beer tap or a photo printer....
...De Beers has always championed unusual secondary colours of diamonds, breaking through rigid industry classifications....
...According to Edahn Golan, a diamond industry analyst, about 30 per cent of diamonds by volume come out of African mines operated by De Beers, which is owned by London-listed Anglo American, while 40 per...
...That move has provided De Beers with an opportunity to increase its market share as consumers shun Russian stones....
...Mining group Anglo American has forecast higher production from its De Beers diamond business as it benefits from sanctions imposed on its main Russian rival Alrosa....
...An East German friend of mine spent his teenage years behind the Berlin Wall reading about ancient Greece....
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