Anglo American De Beers stake sale

In late July 2026 Anglo American identified the Global Diamond Consortium, led by former De Beers chief Gareth Penny and backed by Angola, Namibia and Botswana, as its preferred bidder for an 85 % stake in De Beers. The proposal required Botswana’s decision on its pre‑emptive rights and an approval process, with the transaction slated to close in the fourth quarter of 2026.

A week later Anglo American announced it was moving ahead with the sale, valuing the stake at roughly US$1 billion. The deal structure includes an upfront payment of about US$750 million, a second tranche of US$250 million, and further performance‑based payments. The sale reflects Anglo’s broader portfolio‑optimisation strategy amid a weak diamond market, competition from synthetics and reduced Chinese luxury spending, and follows several impairment charges that lowered De Beers’ carrying value.

Both snapshots trace the same transaction from the selection of the consortium to the formal push for completion, highlighting the shifting ownership of a historic diamond monopoly and the strategic realignment of Anglo American’s assets.