The move is seen as an alternative to a direct sale, as the mining giant continues to streamline its operations.
In May 2024, Anglo American announced a strategic plan to divest less profitable assets and refocus on copper, a critical resource for electric vehicles and various industries. Since then, the company has secured deals to sell its coal and nickel operations and is expected to finalize a sale of its platinum assets later this year. However, progress on offloading De Beers has been slower.
According to a Bloomberg report, Anglo is now holding preliminary discussions with financial institutions regarding a potential IPO, should efforts to secure a buyer fall through. The company has yet to confirm a definitive course of action for the 136-year-old diamond miner.
Last month, Anglo American CEO Duncan Wanblad stated that the separation of De Beers would be “substantively complete” by the end of 2025. He emphasized that the company is positioning De Beers as a standalone entity to ensure its divestment does not disrupt Anglo’s core business operations.
While the diamond industry faces challenges, including fluctuating demand and changing market dynamics, an IPO could provide an alternative route for Anglo American to exit the sector while unlocking value for investors.
