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Anglo American Hit by De Beers Writedown, Posts $3.7 Billion Loss
Anglo American's $3.7 billion loss includes a $2.3 billion impairment on De Beers amid weak diamond demand and rising synthetic alternatives, prompting a planned sale.
- Anglo American posted a $3.7 billion net loss for 2025 after booking a $2.3 billion pre-tax impairment on its De Beers diamond unit following a third annual production drop.
- Weak trading and rising inventories have led Anglo to reassess De Beers, whose underlying losses widened to 511 million dollars, with Duncan Wanblad saying `There is at the moment a plentiful supply of rough diamonds in the market`.
- Previous impairments show the trend, with $2.9 billion and $1.6 billion in 2024 and 2023, and EBITDA of $6.4 billion was in line with estimates.
- Anglo said the De Beers sale is at an advanced stage, having cut its dividend to $0.23 per share, and is pursuing approval for the Teck merger.
- Regional and sovereign investors are seeking stakes in De Beers, with Angola pursuing a 20-30% stake earlier this month and Botswana, a 15% shareholder supplying 70% of rough diamonds, aiming to increase its stake.
17 Articles
17 Articles
Anglo American hit by De Beers writedown, posts $3.7 billion loss
Anglo American posted a $3.7 billion loss on Friday after taking another writedown on its diamonds business, as the miner pushes ahead with plans to shed non-core assets and complete its merger with Teck Resources .
The results of the Canadian mining company Teck were boosted in 2025 in the middle of the copper surge, but its partner Anglo American disengaged from this scenario when reporting its exercise last year.The multinational reported losses of US$3,741 million during 2025, an increase of 22% compared to the losses of US$3,068 million recorded in 2024.In contrast, the period's revenues reached US$18,546 million, an increase of 5% compared to those of…
Evening Standard
The IndependentAnglo American slashes value of De Beers diamond business by another £1.7bn
The FTSE 100 mining giant reported net losses of 3.7 billion dollars (£2.8 billion) in 2025 due largely to the massive impairment charge on De Beers.
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