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Home News Anglo American Might Consider IPO for De Beers Due to Weak Diamond Demand

Anglo American Might Consider IPO for De Beers Due to Weak Diamond Demand

by Madonna

According to the Mail on Sunday, De Beers is considering two options: an initial public offering (IPO) or a sale. Both possibilities are still being reviewed.

Raj Ray, an industry analyst at BMO Capital Markets, pointed out that public markets have been difficult for diamond companies, with a weak outlook expected in the near to medium term. Duncan Wanblad, CEO of Anglo American, has previously stated that the company would assess various options, including a trade sale, demerger, or IPO, to ensure maximum value for shareholders.

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This decision follows Anglo American’s announcement in May that it plans to focus on copper and other more profitable commodities. This strategic shift came after a failed takeover attempt by Australian mining giant BHP.

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