Yet the more than 100-year-old diamond miner is seeking options for its spin off from parent Anglo American at a time of depressed diamond prices, which analysts have said may make any transaction tougher. A public listing or sale to a sovereign wealth fund or other strategic investor are two possible options for the company, according to two people aware of the development.
De Beers did not respond to an email query by Reuters. Anglo said it plans to divest De Beers during the next 18 to 24 months.
Prices of rough diamonds have slumped by 15% to 20% since early 2023, according to the Zimnisky Global Rough Diamond Price Index, due to the rising popularity of lab grown diamonds and a shift by younger consumers away from diamonds.
Mountain Province Diamonds and De Beers own the Gahcho Kue diamond mine in Canada’s Northwest Territories (NWT). De Beers owns two other diamond mines in Canada.
“I have had many…
