Anglo ditches De Beers in a tough blow to struggling diamond market

Anglo ditches De Beers in a tough blow to struggling diamond market

The diamond sector’s most dominant name is being cast adrift.
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In the throes of an industry already under strain, the diamond world braces for seismic change as Anglo American Plc announces the spinoff or sale of its iconic De Beers business, ending nearly a century-long legacy. With plummeting prices, Russian sanctions, and the rise of lab-grown gems, this move marks a pivotal moment. Uncertainty looms over the future of De Beers, leaving stakeholders apprehensive amid an already turbulent market landscape.

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By Thomas Biesheuvel

The diamond industry has already been feeling the heat. Prices have slumped, Russian sanctions are threatening trade and the emergence of lab-grown gems is eating into some key traditional markets.

___STEADY_PAYWALL___

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