Anglo American (LON: AAL) is edging closer to launching a formal sale process for De Beers after reportedly receiving expressions of interest from several potential buyers, including two former chief executives of the diamond miner.
De Beers, the world’s leading diamond producer by value, has been on the chopping block since May 2024, when Anglo announced plans to either sell the unit or launch an initial public offering (IPO). This decision came as part of a corporate overhaul triggered by Anglo’s successful defence against a £39 billion ($49 billion) takeover bid by Australian rival BHP (ASX: BHP).
Former De Beers bosses Gareth Penny and Bruce Cleaver are both leading groups that are potential buyers, as is Australian mining veteran Michael O’Keeffe, according to anonymous sources quoted by Bloomberg.
Penny is chair of Ninety One, an investment firm with over $175 billion in assets under…
