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Diamonds are forever: can Anglo American revive De Beers’ fortunes?

The price of rough diamonds has been steadily declining since 2014 and the industry is facing increasing competition from the synthetic diamond industry. Despite this, mining giant Anglo American has decided to retain leading diamond supplier De Beers, in which it owns an 85% stake, while dramatically restructuring and selling many of its other assets. Heidi Vella-Starr asks, what is behind Anglo’s thinking and can it turn around the fortunes of De Beers?


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