Anglo writes De Beers down by $2.9bn

Anglo writes down De Beers, pressing on with business overhaul
Anglo American posted an annual loss of $3.1 billion on Thursday after taking an impairment of $3.8 billion, mostly due to its ailing diamond unit, as it races to restructure into a major copper producer following a bruising takeover battle with BHP last year.
Anglo American Writes Down De Beers Diamond Unit Value by $2.9 Billion
The miner wrote down the value of its embattled diamond business again as it seeks to ready the division for disposal.
Anglo writes De Beers down by $2.9bn as it prepares to ditch diamond giant
The diamond sector faces an existential crisis from far cheaper lab-grown alternatives and the fading allure of the romanticism around the gems. Anglo is parting ways with De Beers for a reason and ending a relationship that its shareholders may have once thought would be forever.
Anglo Takes Another De Beers Writedown as Diamond Woes Bite
Anglo American Plc took another writedown on its struggling De Beers diamond unit, and posted a slide in profit, as the miner moves ahead with a radical overhaul of its business.Most Read from BloombergTrump to Halt NY Congestion Pricing by Terminating ApprovalSorry,
Anglo posts $3.1 billion loss, dragged down by diamonds
Anglo American posted a $3.1 billion loss on Thursday, dragged lower by a De Beers diamond unit writedown, and pared its dividend, while the market welcomed its progress towards asset sales and reduced debt.
Anglo American Posts $3 Billion Loss After Large De Beers Impairment
The diversified miner posted a worse loss than expected as it booked billions of dollars worth of net impairments.
Anglo American writes down value of De Beers by $2.9bn
Anglo American has written down the value of its De Beers diamond business for the second time in two years. The London-listed miner said on Thursday it had booked an impairment charge of $2.9bn on the unit,
Anglo American Takes Another De Beers Writedown, Profit Slides
Anglo American Plc took another writedown on its struggling De Beers diamond unit, and posted a slide in profit, as the miner moves ahead with a radical overhaul of its business.
Anglo American writes down De Beers value by another $2.9B but analysts see progress
Anglo American (OTCQX:AAUKF) (OTCQX:NGLOY) said Thursday it wrote down the value of its struggling De Beers diamond business by another $2.9B, after already writing down the business by $1.6B to $7.6B last year.
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‘Diamond verification’ device launched to fight lab-grown gems
JOHANNESBURG: In a bid to keep the shine on struggling natural diamond sales, industry giant De Beers has launched ...
The diamond market is losing its shine
Diamonds, once the ultimate symbol of opulence and wealth, may be on their way out. With the prevalence of lab-grown ...
Morningstar5d
Anglo American Writes Down Value of De Beers Diamond Unit by $2.9 Billion — Update
its troubled diamond business has proved to be difficult to dispose of as cheaper manufactured gemstones rise in popularity and global economic growth remains weak. De Beers reported an ...