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Vol 67 No 16

Published 7th August 2026


Botswana

De Beers discounts are for ever

The final act in the Anglo American restructuring drama has opened with a proposed sale of its diamond mining affiliate De Beers for US$1 billion to the Global Diamond Consortium, led by its former chief executive Gareth Penny. It is a precipitate price crash for the world’s biggest diamond company, founded by Cecil Rhodes in Kimberley, South Africa, in 1880, and valued at over $50bn at its peak.

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