DiamondBuzz
De Beers’ carrying value to be written down:Anglo American
Anglo American said it expects to write down De Beers’ carrying value for the second year in a row, in response to the industry’s continued weakness.
The London-based miner, which owns 85% of De Beers, wrote in its annual production report that it’s “assessing the impact of diamond market conditions and general fall in demand in China, which is likely to lead to an impairment at the full-year results. We expect full-year 2024 EBITDA for De Beers to be marginally negative.”
De Beers is currently valued at $7.6 billion, following a $1.6 billion write-down last February. Its new valuation will be announced when Anglo releases its 2024 financial results on Feb. 20.
DiamondBuzz
Richemont and Signet Jewelers Could Join Global Diamond Consortium In Bid For De Beers
Richemont, Signet Would Connect The Consortium To Key Global Growth Vectors Spanning Luxury High Jewelry and Mass-Market Retail.
The Global Diamond Consortium (GDC)
Richemont and Signet Jewelers are reported to be in talks about joining the Global Diamond Consortium (GDC), the preferred bidder for De Beers according to a Bloomberg News report.
GDC was selected in July 2026 as one of Anglo American’s preferred bidders for De Beers as part of Anglo American’s ongoing corporate restructuring.
The potential inclusion of Richemont—owner of luxury Maisons including Cartier and Van Cleef & Arpels—and Signet Jewelers—the world’s largest retailer of diamond jewelry, operating brands such as Kay Jewelers, Zales, and Jared—would connect the consortium to key global growth vectors spanning luxury high jewelry and mass-market retail.
Strengthening the Natural Diamond Ecosystem: Participation by major luxury brands and global retail leaders reinforces commitment across the entire value chain—from responsible mining and manufacturing to consumer engagement.
Balanced Governance Structure: Discussions center on potential minority equity positions that would support long-term category growth while maintaining appropriate separation between ownership and commercial strategy.
Broad Stakeholder Participation: The consortium continues to advance talks with host governments, including discussions with the Government of Botswana regarding a potential increase in its equity share in De Beers from 15% to approximately 25%, alongside participation from private investors and southern African host nations.
Discussions between GDC, Richemont, Signet, and participating government stakeholders remain ongoing. Terms of any potential participation, including the size of equity interests, have not been finalized and remain subject to regulatory approvals and definitive documentation.
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International News18 hours agoUS Holiday Shopping Expected To Top $1 Trillion For The First Time: NRF
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National News12 hours agoBelgian Consul General H. E. Mr. Pierre Stverlynck Graces BDB Annual Day
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National News13 hours agoLimelight Lab Grown Diamonds Crosses 100 Stores Milestone This Dussehra: Targets 200 In 2027
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New Premises13 hours agoJoyalukkas Opens Its 2nd Bengaluru Showroom in Jayanagar
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