Anglo Eases Fears on De Beers Stake Sale

Anglo American CEO Duncan Wanblad has ruled out any “flip-flop” on plans to sell its 85% stake in Diamond company De Beers, asserting that the diamond miner no longer fits within its portfolio, reports Rough & Polished.

Wanblad, speaking at the Financial Times Mining Summit in London, cited low demand from China as a key challenge for the diamond market but expressed optimism about a smoother sale process due to China’s recent stimulus efforts.

According to the report, despite concerns that the diamond market may not fully recover next year, Wanblad reassured that Anglo remains committed to selling De Beers by 2026. Regarding a potential delay in the sale, he added, “We are talking about a couple of months.”

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