Anglo’s Plan to Sell De Beers Complicated by Diamond Output Cut
- Miner is looking to exit diamond and platinum businesses
- Diamond demand still weak; PGM prices continue slump
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Anglo American Plc is looking at more diamond production cuts as the industry continues to struggle, complicating its plan to sell the De Beers unit as part of a radical overhaul of its business.
Anglo announced the restructuring earlier this year as part of a successful rebuttal of a $49 billion approach from BHP Group, the world’s biggest miner.