Based on many verified news sources from today, this is the most recent information on Anglo American’s third write-down of its De Beers diamond business:
What took place?
De Beers, Anglo American’s diamond division, has seen its book value cut by almost $2.3 billion.
This is the third year in a row that the company has experienced yearly impairment. In 2023 and 2025, De Beers was written down by $1.6 billion and $2.9 billion, respectively.
The most recent writedown reduces De Beers’ carrying value on Anglo’s books by around half, to about $2.3 billion.
Why are there so many hits?
Analysts and Anglo American identify a number of ongoing industry pressures:
Prices and sales of diamonds have decreased due to weak demand in important markets like China and the US.
Lab-grown diamond competition has reduced prices and changed customer tastes.
De Beers’ 2025 EBITDA loss was around $511 million, indicating a loss-making performance.
Effect on Anglo’s performance
Anglo American recorded a net loss of almost $3.7 billion in 2025, of which the impairment was a significant factor.
Anglo’s core EBITDA continued to grow moderately on an ongoing basis (except from one-time events), indicating strength in other mining categories such as iron ore and copper.
Contextualizing strategy
As part of a broader reorganization that prioritizes core businesses, Anglo is aggressively seeking to sell up De Beers.
Additionally, it is moving forward with a significant merger with Teck Resources of Canada, which would restructure the business around bulk commodities like copper.
In summary, the value of the conventional diamond company is being undermined by protracted weak demand and industry upheaval, as seen by the recurrent write-downs. As part of its long-term strategy, Anglo is now guiding De Beers toward sale or separation.
