Anglo American has warned that it may cut the value of De Beers Mining Company for the third time in as many years, underlining the depth and persistence of the slump facing the global diamond market and renewing uncertainty for Botswana, De Beers’ long-standing partner.
In a statement ahead of its full-year results, Anglo said it is conducting an impairment review of De Beers’ carrying value, citing weak market conditions. The review could result in another write-down, following a $2.9 billion impairment booked last year and a $1.6 billion reduction in 2023.
There's more to this story
But to keep reading, we need you to subscribe.
Investigative journalism is an indispensable part of a healthy society, but it's also expensive to produce. We are reliant on subscriptions to fund our work, and while you can enjoy most of our stories for free, a small number of premium features are reserved for subscribers.
You can subscribe for one week, a month or a full year - the choice is yours.
Save 77% on an annual subscription. Click here to find out how.
Existing subscribers can log in to keep reading here.
