DiamondBuzz
Anglo American’s divestment of De Beers will be “substantively complete” by the end of this year: Anglo CEO
Anglo American is working to maximize its value in case a new merger and acquisition (M&A) suitor emerges and expects significant progress this year on the anticipated spin-off of its De Beers diamond business, CEO Duncan Wanblad stated on Monday.
Anglo American’s divestment of De Beers will be “substantively complete” by the end of this year, according to Anglo CEO Duncan Wanblad.
He also said the 136-year-old diamond miner would be “fully set up as a standalone business”, to ensure it didn’t have a negative impact on Anglo’s operations.
Wanblad said the Botswana government was keen to increase its 15 per cent stake in De Beers. Botswana and De Beers announced earlier this week that they had finally reached a long-term agreement on sales of rough diamonds from Debswana, their joint venture.
DiamondBuzz
Rio Tinto’s Diamond Division Posts $79 Million EBITDA Loss in 2025
Higher output from Canada’s Diavik Diamond Mine offsets revenue decline, but end-of-life pressures continue to weigh on performance.
Rio Tinto reported a challenging year for its diamond business in 2025, posting an underlying EBITDA loss of $79 million despite improved revenues. While the loss narrowed compared to the $115 million deficit recorded in 2024, the division remained under pressure amid a global diamond market slowdown and the nearing closure of its last active mine.
Annual revenue rose 19% to $332 million, supported by stronger production at the Diavik mine in Canada, Rio Tinto’s only remaining diamond operation. Output climbed 61% to 4.4 million carats, driven by the ramp-up of mining activities in the underground section of the A21 deposit, which began scaling up in late 2024.
However, the A21 underground ore body is expected to be depleted by the end of the first quarter of 2026, marking the end of Diavik’s operational life. The company plans to spend approximately $1 billion this year on closure activities related to Diavik, as well as rehabilitation work at the former Argyle Diamond Mine, which ceased production in 2020, and other non-diamond projects.
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