Anglo Takes Third De Beers Writedown in Three Years

2026-02-20 14:50:39 ET

Anglo American (LSE:AAL,OTCQX:NGLOY) has slashed the value of its De Beers diamond business by US$2.3 billion, cutting the unit’s carrying value in half and pushing the FTSE 100 miner to a US$3.7 billion annual loss as a prolonged slump in the global diamond market deepens.

After previous charges of US$2.6 billion in 2023 and US$2.9 billion in 2024, De Beers is now valued at US$2.3 billion—a fraction of what it was worth just a few years ago.

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