Overview
- Anglo recorded a US$2.3 billion pretax impairment on De Beers, cutting the unit’s carrying value to about US$2.3 billion after successive write-downs since 2023.
- Core earnings were US$6.4 billion and the dividend was reduced to US$0.23 per share from US$0.64 a year earlier.
- De Beers’ underlying loss widened to US$511 million as diamond production fell 12% and the company flagged persistently weak rough-diamond trading conditions.
- CEO Duncan Wanblad said the De Beers sale process is at an advanced stage with bids from multiple consortia, as Botswana signals interest in a larger stake and Angola pursues a 20–30% holding.
- The roughly US$50–53 billion all-stock merger with Teck has shareholder approval and awaits clearances in jurisdictions including China and South Korea, with management guiding to a September–March approval window and projecting combined copper output above 1.2 million tonnes annually.