Anglo knocked as key De Beers bidder pulls interest
ANGLO American’s auction of its storied diamond division De Beers has turned out to be a bit of a dog show, with many of the potential bidders apparently dropping out amid…
De Beers to halt Venetia mine for two years
DE BEERS plans to suspend production at its Venetia mine in South Africa for two years, as the diamond producer battles one of the toughest downturns in the industry’s history,…
De Beers sale gets cheaper, though not easier
ANGLO American has massively downgraded the value of De Beers on its balance sheet, suggesting a bargain might be in the offing for its many bidders. Which might make the sale…
Angola bids for Anglo American’s De Beers stake
ANGOLA has submitted an offer to acquire Anglo American’s majority stake in De Beers, joining a growing list of potential suitors that includes neighbouring Botswana and investor…
Generation of exploration has been lost in SA, says Wanblad
A GENERATION of minerals exploration had been lost in South Africa owing to unsupportive policies, said Anglo American CEO Duncan Wanblad. Speaking at the Joburg Indaba on…
Selling De Beers presents Anglo with some tricky politics
THE sale of De Beers was always going to be the hardest part of Anglo American’s restructuring, first announced in May 2024, not least owing to the severe downturn in the sector…
Anglo favours De Beers buyer with industry experience
WHEN Gareth Penny ended his 22-year career at De Beers in 2010, the company was only just emerging from the tumult of the global financial crisis. Amid high indebtedness and poor…
Anglo warned against De Beers firesale
IT would be a “mistake” for Anglo American to sell De Beers “at a deep discount in the midst of the diamond market lull”, a prominent diamond analyst told the Financial Times on…
A year after unveiling its restructure, Anglo has surprised the market
Voicemail is on the decline globally, 8% lower since 2020, according to US company Vonage. Coca-Cola removed it from its corporate headquarters three years ago. Yet for Ken…
Sale of De Beers draws interest from former CEOs: report
ANGLO American’s planned sale of De Beers is drawing interest from former CEOs of the diamond mining giant, Bloomberg News reported on Thursday. The disposal represents the final…
De Beers exploration push into Angola finds eight diamond project targets
De Beers has wasted no time getting its exploration work in Angola up to speed with CEO Al Cook telling delegates to the Angola International Diamond Conference that the group…
AngloGold turns to South African lawyers to bolster board
ANGLOGOLD Ashanti turned to South Africa’s legal profession in an effort to bolster its board announcing today the appointments of Bruce Cleaver, a former De Beers CEO and the…
Gemfields appoints former De Beers boss as board chair
EMERALD and ruby miner Gemfields scored a coup with the appointment of former De Beers CEO Bruce Cleaver as its non-executive chairperson, effective July 1. Cleaver, who led the…
Wanblad plants feet firmly under boss’ desk with Anglo structural makeover
ANGLO American CEO Duncan Wanblad today unveiled a restructuring of the firm’s reporting lines in which the company is divided between its Americas and African/Australian…
De Beers sales slump as mid-tier delays purchases amid economic uncertainty
DE BEERS announced a year-on-year decline in second cycle rough diamond sales which totalled $495m. This compares to rough diamond sales of $652m in the second cycle of 2022 and…
Natascha Viljoen announces shock resignation from Amplats
NATASCHA Viljoen is to step down from Anglo American Platinum (Amplats) in the next 12 months in order to take up a position at US gold miner, Newmont Corporation, the group…
De Beers gets off to slow start as sightholders take cautious outlook
DE Beers announced heavily reduced diamond sales for the first cycle of its 2023 financial year which the group’s CEO Bruce Cleaver put down to caution ahead of greater spending…
Dip in De Beers’ ninth cycle sales no surprise given US economic uncertainty
ROUGH diamond sales declined $58m for the ninth cycle, according to provisional numbers announced today by De Beers, the Anglo American controlled mining and marketing firm. They…
Cook steps into De Beers as questions are being asked about diamond demand
AL Cook replaces Bruce Cleaver as CEO of De Beers at an uncertain time in the diamond industry. While prices are high and some diamond producers are making 50% more on…
De Beers’ eighth cycle rough diamond sales fall to $500m as Diwali approaches
ROUGH diamond sales declined to $500m in De Beers’ eight cycle compared to seventh cycle sales of $638m – a downturn the group said was in line with expectations. “Demand for our…