Anglo Hasn't Ruled out Other De Beers Bidders
August 02, 26
(IDEX Online) - Anglo American say it has not so far granted exclusivity to any group bidding to buy De Beers.
Anglo's CEO Duncan Wanblad (pictured) told reporters last Thursday (30 July): "We are not exclusive with any particular consortium at â this particular point in time. And there is more than one in the process."
His comment follows a statement two weeks earlier by Botswana's minister for state president, defense, and security, Moeti Mohwasa, who told lawmakers that Anglo had "identified a preferred bidder, the Global Diamond Consortium".
The government may indeed have identified a preferred bidder, namely the group led by former De Beers CEO Gareth Penny.
But Wanblad's comments indicate no formal agreement has been reached, whereby the seller agrees to negotiate only with that one potential buyer for a set period, and in doing so blocks other bidders.
Wanblad was speaking as Anglo, majority owner of De Beers, announced it had halved its first-half losses, down from $1.88 billion in 2025 to $858 million.
The mining consortium began divesting non‑core assets after a hostile (and unsuccessful) takeover bid for Anglo by Australian rival BHP in April 2024.
De Beers was valued at $18 billion in 2001, but Anglo's 85% stake is now expected to fetch just $1 billion, according to credible news reports.