Anglo writes De Beers down by $2.9bn

Anglo American Writes Down De Beers Diamond Unit Value by $2.9 Billion
The miner wrote down the value of its embattled diamond business again as it seeks to ready the division for disposal.
Anglo American writes down De Beers value by $2.9bn
Anglo is considering either selling or listing De Beers, the carrying value of which is now about $4bn. That includes about $2bn worth of stock, a similar amount to last year.
Anglo writes down De Beers, pressing on with business overhaul
Anglo American posted an annual loss of $3.1 billion on Thursday after taking an impairment of $3.8 billion, mostly due to its ailing diamond unit, as it races to restructure into a major copper producer following a bruising takeover battle with BHP last year.
Anglo American writes down De Beers value by another $2.9B but analysts see progress
Anglo American (OTCQX:AAUKF) (OTCQX:NGLOY) said Thursday it wrote down the value of its struggling De Beers diamond business by another $2.9B, after already writing down the business by $1.6B to $7.6B last year.
Anglo Takes Another De Beers Writedown as Diamond Woes Bite
Anglo American Plc took another writedown on its struggling De Beers diamond unit, and posted a slide in profit, as the miner moves ahead with a radical overhaul of its business.Most Read from BloombergTrump to Halt NY Congestion Pricing by Terminating ApprovalSorry,
Anglo American writes down De Beers on weak diamond market
Anglo-American first announced last year its decision to divest from De Beers, the diamond company that long dominated the global market. The miner on Tuesday sold off its nickel business to Chinese group MMG International.
Anglo American takes another De Beers writedown, profit slides
Anglo American Plc took another writedown on its struggling De Beers diamond unit, and posted a slide in profit, as the miner moves ahead with a radical overhaul of its business.
Anglo posts $3.1 billion loss, dragged down by diamonds
Anglo American posted a $3.1 billion loss on Thursday, dragged lower by a De Beers diamond unit writedown, and pared its dividend, while the market welcomed its progress towards asset sales and reduced debt.
Anglo American Posts $3 Billion Loss After Large De Beers Impairment
The diversified miner posted a worse loss than expected as it booked billions of dollars worth of net impairments.
Chinese retailers are offloading polished diamonds as demand tanks, adding to a $2 billion inventory headache for De Beers
Anglo American's CEO says the headwinds from lab-grown diamonds were surmountable as owner writes down $2.9 billion of De ...
Anglo American writes down value of De Beers by $2.9bn
Anglo American has written down the value of its De Beers diamond business for the second time in two years. The ...