Earlier this year, the international jewellery industry was stunned when it was revealed that De Beers was available for purchase. Australia’s BHP Group Limited tendered three proposals; however, they were rejected.
As reported by MiningMX, Duncan Wanbald said the recovery in the diamond market depended on China during an address at the Financial Times Mining Summit in London.
“The plan is to get it done. There is no way De Beers is a fit in the [Anglo American] portfolio. There is no flip-flop possibility,” he said.
“[China’s] long-awaited stimulus makes me a little more optimistic that this will be less complicated than it might have been.”
Wanbald suggested that if the diamond market doesn’t recover quickly, the sale of De Beers may extend beyond the next two years. The company plans to finalise a sale before the end of 2025.
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