Anglo American confirms De Beers is up for sale

Confirming recent reports, Anglo American stated last week that De Beers will be “divested or demerged” from its portfolio. In an online investor presentation, Anglo CEO Duncan Wanblad said he expected the sale of De Beers - as well as a number of Anglo American’s other holdings, including its platinum unit - will be completed by the end of 2025. Anglo controls 85% of De Beers, while the government of Botswana owns 15%. Wanblad declined to speculate on possible new owners for De Beers. Wanblad noted that any De Beers sale will not affect the company’s yet-to-be-signed 10-year contract for Botswana’s gems.