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 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 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 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.
Chinese retailers are offloading polished diamonds as demand tanks, adding to a $2 billion inventory headache for De Beers
Anglo American's CEO says the headwinds from lab-grown diamonds were surmountable as owner writes down $2.9 billion of De ...
Daily Maverick on MSN4d
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 ...
The Financial Times4d
Anglo American writes down De Beers value by $2.9bn
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Anglo American has written down the value of its De Beers diamond business for the second time in two years ...
Bloomberg L.P.20d
De Beers CEO Says US Diamond Demand Shows Signs of Recovery
De Beers said there were signs of a pick up in US diamond demand before Christmas, while India has overtaken China to become the second-biggest market. The industry has been hammered by a collapse ...