In a significant development this morning, Anglo American and De Beers announced their intention to separate, marking the next evolution in the ownership of De Beers, the world’s leading diamond company.
Al Cook, CEO of De Beers Group, expressed his optimism about the future:
“De Beers has led the diamond industry for more than a century. We have unparalleled expertise, outstanding assets across more than 20 countries, a unique sales model, and an iconic brand, synonymous with diamonds. I am confident that we will remain the diamond leader for the next century.”
The separation signifies a new chapter for De Beers, a company with a 136-year history and many ownership structures over time.
Cook emphasized that, despite the ownership change, De Beers will continue to deliver value to all its stakeholders, including key partners in Botswana, South Africa, Namibia, Canada, Angola, and other countries.
Notably, De Beers is looking forward to finalizing its transformational agreement with the Government of the Republic of Botswana, which holds a 15% ownership interest in De Beers.
“Today’s announcement from Anglo American opens up new possibilities under new ownership. But some things will not change.
We will continue to deliver value for all our stakeholders,” said Cook. “Later this month, we will present the new strategy for De Beers.
Diamonds remain some of the most desired products around the world, and I am excited by the opportunity we have to bring their magic to a new generation. With the ongoing recovery in rough diamond demand and such a positive outlook for the sector, I feel very confident in our future.”
This strategic move is expected to position De Beers to better capitalize on market opportunities and to reinforce its status as the leader in the diamond industry, ensuring its continued success and relevance in the decades to come.
