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In 2011, Anglo American took control of De Beers after buying the Oppenheimers' family stake of 40% for US$5.1 billion (£3.2 billion) and increasing its stake to 85%, ending the 80-year Oppenheimer control of the company. [12] In May 2024, Anglo American announced its intention to spin off or sell De Beers. [13]
Anglo announced a $2.9 billion write-down in the value of De Beers as part of its 2024 annual results on Thursday. It was the second valuation reduction in two years, after a $1.6 billion write ...
Anglo American, along with De Beers, backed the manufacturing of a superconducting quantum interference device (SQUID) to help improve the sensitivity of exploration surveys. [68] Anglo American established Boart Products South Africa Limited in 1936 (later named Boart International) to turn the company's stockpile of boart , or low-grade ...
While lab-grown diamonds have flourished among Gen Z, De Beers has found success for grown gems elsewhere. ... Anglo-American, a member of the Fortune 500 Europe, owns 85% of De Beers and is on a ...
The Oppenheimer family is an Anglo–South African family best known for its longtime control of Anglo American and De Beers. [1] Ernest Oppenheimer, a German immigrant to Britain and later to South Africa, founded the Anglo American Corporation in 1917 to mine the Witwatersrand for gold. [2]
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He succeeded Harry Oppenheimer as chairman of Minorco in 1982 and as chairman of De Beers in 1985. He succeeded Gavin Relly as chairman of Anglo American in 1990 and retired as chairman of De Beers in 1997 to become non-executive deputy chairman. After leading the 1999 merger of Anglo American and Minorco, Ogilvie Thompson became its chairman ...
De Beers, the company that coined the slogan “diamonds are forever,” wants to make a splash in retail to compete with the likes of Tiffany and Cartier.