Anglo American is positioning itself to extract maximum value from any future merger or acquisition interest while advancing plans to spin off its De Beers diamond business, CEO Duncan Wanblad said on Monday at the Mining Indaba in Cape Town.
The London-listed miner, which in May turned down a $49 billion hostile bid from BHP aimed primarily at its copper portfolio, has been on a path of strategic realignment. In 2024, the company emerged as the best-performing stock among major miners after it pared back its coal assets and agreed to separate its platinum business.
Wanblad detailed that the firm is actively preparing to divest De Beers—a move expected to boost valuation amid persistently weak diamond demand. Although the company initially forecasted an 18- to 24-month timeline for the spin-off, Wanblad conveyed that the process would be substantively complete by the end of 2025. 
He emphasized that the objective is to establish De Beers as a standalone entity that would no longer weigh on Anglo American’s broader operational performance.
Botswana, which holds a 15 percent stake in De Beers, has reportedly offered to increase its share under commercial terms, anglo American could become an even more attractive target, particularly given its long-life copper assets in Latin America. These copper reserves are critical for the energy transition and are in high demand for data centers powering artificial intelligence applications.
Market observers note that Anglo American’s approach reflects a broader industry trend among global miners to streamline operations and concentrate on high-margin assets. Recent reports from Bloomberg and other financial news outlets confirm that the company’s efforts to cut costs and focus on core assets have bolstered its performance, even as the global commodities market remains volatile.
