Anglo American Lowers De Beers’ Value | Rapaport Market Comment

De Beers’ parent company, Anglo American, has reduced the value of the miner on its books by $1.6 billion. The reason: a more cautious outlook on diamond demand. Plus: What happened to De Beers’ inventories during 2023?
Rapaport is the primary source for diamond pricing and information.
Read all the stories of the week on our website rapaport.com/, and follow us on X, Instagram, LinkedIn, and Facebook.
Learn more about our sponsor RapNet at www.rapnet.com/
Presenter: Joshua Freedman
Production: Vanina Pikholc
Videography: Leylifilms (www.leylifilms.com)
Editing: Leylifilms, Vanina Pikholc
Executive Producer: Martin Rapaport
Credits: Anglo American, De Beers, Shutterstock.
#diamondnews #Rapaport

[@istitutodigemmologiagenova1976]

Thank you for sharing

[@rapaportYT]

it's our pleasure

[@TheoSmith249]

And now DeBeers is being cast adrift by Anglo. Lightbox also reduced the retail price per ct. tough times indeed.

[@davidwong7283]

Anglo knows . its time to get out . Lab grown diamonds have been around for ages but its morphed into this super powerful product at the correct price . Its such a formidable enemy to natural , everything the same but better . You dont need to pick diamonds with black dots anymore even if you had a helluva money to spend . You could have type 2A , the clearest crystal structure of a diamond . You could have super ideal cutting with cutters no longer needing to conserve weight like they do on natural . And all of this for 5X to 10X lesser than the cost of a natural diamond . Of course , Guys like Graff would still have their clients since these people have the money . But i personally feel the day of reckoning is coming even for guys like Graff .

[@davidwong7283]

Like everything we have to be careful . Bifurcation ? what an outstandingly sounded word . But nothing is given away what they really think , which will do better , which will do worst . I know somebody who used to work at Rio Tinto , he was part of a team studying the impact of lab grown diamonds . Trust me , the forcast for natural isnt a good one . The days when Naturals could be sold at such crazy prices are over or is already coming to an end . On another note , i spoke with a Debeers staff / manager at the Singapore Jewellery fair a few years ago , i actually told him off . I said why did u fellas legitimize the lab diamonds by also selling them using LightBox ? I think thats the stupidest thing to do at that time , they should have delayed it a few more years at the least .

[@TheoSmith249]

.and what about the tons of boart material that has not been graded yet. What is its valuation. I dare say not good. DB have years(if not decades) of stock not yet released.