08:31 AM EDT, 07/29/2026 (MT Newswires) -- Mining giant Anglo American (AAL.L, AGL.JO) is reportedly in talks to sell its diamond business De Beers in a $1 billion deal, Bloomberg News reported Wednesday, citing people familiar with the situation. A global diamond consortium led by De Beers's former Chief Executive Gareth Penny is offering to acquire Anglo American's 85% stake in De Beers. The group, which includes Namibia, Angola and certain diamond traders, would pay $750 million upfront, and $250 million later, according to the report. The buyers will also need to reach an agreement with Botswana, which holds a 15% shareholding in De Beers. Anglo American did not immediately respond to a request for comment from MT Newswires. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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