De Beers Sale Attracts Fierce Global Bidding War as Anglo American Prepares Exit

Gems News: Mining powerhouse Anglo American has confirmed that the sale of its 85 per cent stake in the iconic De Beers Group could be finalized within the next six months, with serious global players already circling. CEO Duncan Wanblad revealed that the company is advancing along two strategic paths – pursuing both a direct trade sale and a potential market listing – with momentum building on each front. He emphasised that the shortlist now contains only credible contenders who fully understand the complexities of the diamond trade and possess the operational capacity to run such a vast enterprise. In this Gems News report, Wanblad added that all parties still in the process are well-aligned with the industry and have significant market experience.

De Beers likely to be sold off before the end of 2025
Image Credit: De Beers

The sale discussions come amid a difficult period for De Beers, which has reported a 13 per cent decline in rough diamond sales for the first half of the financial year. Revenues fell to USD 1.7 billion, and the group also recorded a USD 189 million loss during the same period. Despite these figures, Anglo American remains firm in its commitment to exit, with Wanblad stating that the right buyer on the right terms is the company’s priority.

Market Pressures and Buyer Interest

Industry analysts suggest that any buyer will require significant financial backing, with consortium formations likely to emerge to fund the multi-billion-dollar acquisition. Wanblad noted that the size of the deal demands “multiple balance sheets,” a reflection of just how large and influential De Beers remains in the global diamond supply chain.

Among the interested parties is the government of Botswana, already a 15 per cent stakeholder in the company, which has openly expressed ambitions to secure a controlling share. This move would be a historic shift in the diamond trade’s power balance, potentially placing one of the world’s most important diamond resources under greater African ownership.

Challenging Trading Conditions

De Beers’ latest financial report paints a picture of a turbulent market. Although consumer demand for diamond jewellery has remained stable in the US and key Asian markets, rough diamond trading has been hindered by cautious restocking and surplus polished inventories. The US market, while steady so far, faces looming uncertainty due to tariffs announced in April, while India’s jewellery sector reported double-digit growth in the first quarter. Meanwhile, the decline in China’s market appears to be slowing, and demand in Japan and the Gulf has stayed robust.

The company’s production guidance remains between 20 and 23 million carats for the year, signalling no major operational slowdown despite market headwinds. However, the closure of its Lightbox Jewelry lab-grown diamond brand and its participation in the Luanda Accord – a new global natural diamond marketing initiative – mark a significant strategic shift.

A Defining Moment for the Diamond Industry

If the Anglo American exit is completed within the predicted timeline, the sale will mark one of the most significant ownership changes in the history of the diamond industry. The involvement of both private capital and sovereign stakeholders suggests that the new era of De Beers could look very different from its Anglo-controlled past.

For now, all eyes are on how negotiations unfold – and whether Botswana, private equity funds, or other industry giants will emerge as the new guardians of the De Beers legacy. The coming months will be decisive, shaping the company’s next chapter and potentially altering the balance of influence in the global diamond sector. This sale could also redefine the marketing and supply strategies that have long underpinned the natural diamond market. With so much at stake, the final outcome will be closely watched by miners, traders, retailers, and luxury consumers alike.

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