Table of Contents
Sales have plummeted more than 40 percent in the world’s largest diamond producer.
De Beers made £250m from its latest diamond auction (up from £360m the year before), coming just weeks after its FTSE100 owner Anglo American rejected a takeover bid for £39bn from rival mining giant BHP.
During the takeover battle, Anglo boss Duncan Wanblad said De Beers was one of four companies it would sell or spin off under a rush strategy that helped fend off the bid.
Fall: De Beers, where Black Panther and 12 Years a Slave star Lupita Nyong’o (pictured) is a global ambassador, has struggled with falling sales and prices.
There is speculation it could be listed on the London Stock Exchange with a float of £4bn or sold to a buyer as a sovereign wealth fund.
De Beers, where actress Lupita Nyong’o, star of Black Panther and 12 Years A Slave, is a global ambassador, has battled a slump in sales and prices as the popularity of lab-grown stones has risen, much cheaper.
Cook, who has been chief executive of De Beers since February 2023, has insisted the company will prosper when it separates from Anglo, pointing out that it did “some of our best work” in the 124 years before Anglo took control ago. 12 years. .
Cook also told the Mail that De Beers was “consciously disassociating itself” from Anglo, in a nod to the term used by Gwyneth Paltrow and Coldplay frontman Chris Martin when they divorced on good terms.
DIY INVESTMENT PLATFORMS
AJ Bell
AJ Bell
Easy investing and ready-to-use portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free Fund Trading and Investment Ideas
interactive inverter
interactive inverter
Flat rate investing from £4.99 per month
eToro
eToro
Stock Investment: Community of over 30 million
Trade 212
Trade 212
Free stock trading and no account commission
Affiliate links: If you purchase a product, This is Money may earn a commission. These offers are chosen by our editorial team as we think they are worth highlighting. This does not affect our editorial independence.
Compare the best investment account for you