Anglo Ditching De Beers Is Hard Blow for Troubled Diamond Market
- De Beers to be sold or spun off as part of Anglo restructuring
- There’s now uncertainty over how De Beers will operate
An employee inspects diamonds.
Photographer: Prakash Singh/BloombergThis article is for subscribers only.
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.
Now, the sector’s most dominant name is being cast adrift.