De Beers, the diamond industry giant, has been struggling for years, and its parent company, Anglo American, is reportedly losing patience… and money. The losses must stop. While Anglo American has been selling off assets in other industries, it continues to hold on to De Beers—though, after reading this latest Bloomberg article published in the Malaysian Reserve, you might wonder why.
A global economic downturn, coupled with weakening demand and growing competition from synthetic diamonds, has left De Beers grappling—perhaps attempting to reignite its former marketing magic. Meanwhile, Anglo American’s frustration is mounting, reinforcing its plans to sell what was once “the titan of the industry.”
We’ve heard this before—but this time, it may be more serious than we realize.
This article traces the history of De Beers, from its dominance in diamond mining and marketing to the challenges of competition, economic shifts, and now the potential breakup of Anglo American, which could lead to De Beers’ sale.
Yet, some believe patience and a stronger stance are all that’s needed.
Time will tell.
A good read – Tap here to follow the story in the Malaysian Reserve,
“Crisis at De Beers is a Warning for RM356b Diamond Market.”
