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Billionaire Johann Rupert's Richemont weighs De Beers stake as 138-year-old diamond giant searches for a new owner at $1 billion. 16 October 2026 11:42 AM South African billionaire Johann Rupert's luxury group Richemont is in talks to join a consortium bidding for De Beers, the diamond miner being sold by Anglo American for an estimated $1 billion. Johann Rupert [Wikipedia] * Richemont, owner of Cartier and Van Cleef & Arpels, is negotiating to join a major consortium bidding for De Beers as natural diamond prices fall and synthetic competition rises. * The acquisition would give Richemont significant control over the natural diamond supply chain and strengthen its position in the luxury jewellery market. * Other notable bidders for De Beers include Belgian diamond company Pluczenik and American retailer Signet, but Botswana, holding a 15% stake, has the right to intervene. * De Beers has been loss-making since 2023, prompting parent company Anglo American to sell its 85% share as part of a restructuring plan.

Tech giants want equity in Anglo American to lock up copper supply. Anglo American plc (AAUKF / NGLOY; LON: AAL) has held talks with technology companies interested in buying equity stakes as a way of locking in long-term metal supplies, Chief Executive Officer Duncan Wanblad said Thursday at the Financial Times Metals and Mining Summit. No such stake has been taken so far. The discussions "are absolutely being had," Wanblad said, framing the choice on the tech side as whether to lock in long-term offtake directly or take an equity position to secure a share of future supply. "There were certainly deep expressions of interest in potentially trying to do that," he said, while noting that nothing has closed. "Given the scarcity issue that we've been speaking about, a lot of people are looking for ways to secure supply." Tech manufacturers use large amounts of copper, aluminum and steel, along with various rare earth metals, both in making their products and in the data centers that power artificial intelligence. BHP (BHP) took a more measured stance. Chief Financial Officer Vandita Pant, also speaking at the conference, said the company is in talks with hyperscalers and is working with Amazon (AMZN) to help it secure lower-carbon copper, though equity investment is "a different issue." "If you're a customer, what you're looking for is the ability to rely on very reliable supply," she said. Commodity prices moved independently of the supply talk. December Comex copper traded near $6.52 a pound (about $14,370 a tonne) on Thursday, a third straight decline, after stronger-than-expected US inflation data put a Federal Reserve rate hike this month back on the table. Cash copper on the LME settled at a record $14,822 on Monday, and the most-active Comex contract remains within 6% of its September 9 record settlement of $6.89. Wanblad also touched on two portfolio moves during the summit. The pending merger with Teck Resources (NYSE: TECK) still awaits final Chinese regulatory clearance, with the parties still expecting to close by March 2027. Separately, Anglo likely will shutter its nickel business in Brazil if the European Union fails to approve the planned $500 million sale of the assets to China's MMG. The company is also seeking about $10 billion for De Beers.

Cartier owner weighs De Beers bid with Signet. Cartier owner Richemont and U.S. jewellery retailer Signet Jewelers (NYSE: SIG) are discussing joining a consortium bidding for Anglo American's (LSE: AAL) controlling stake in De Beers, Reuters and Bloomberg reported Thursday. Anglo is selling its 85% holding in the diamond producer, with Botswana owning the rest. A potential deal has been reported at about $1 billion (C$1.43 billion), below De Beers' $2.3-billion carrying value following three writedowns in as many years. The business recorded a $511-million underlying loss before interest, taxes, depreciation and amortization on revenue of $3.5 billion last year, Anglo's results show. The prospective investors are discussing joining Global Diamond Consortium, led by former De Beers CEO Gareth Penny. Talks involving Richemont are advanced, although there's no guarantee it will join, Bloomberg reported. The size of either company's potential investment hasn't been disclosed. Their participation would bring major sellers of finished jewellery into the ownership of a struggling supplier of rough diamonds. De Beers has faced weaker Chinese demand and competition from lab-grown stones, while an investment would give the retailers greater influence over their natural-diamond supply chain. Signet and De Beers already launched a joint marketing campaign in 2024 to promote natural diamonds to younger U.S. couples. Bidders. Global Diamond Consortium emerged as the preferred bidder in July, according to Botswana's government. The group includes participation from the governments of Namibia and Angola and diamond manufacturers. It's nearing an agreement that could increase Botswana's holding to about 25%, Bloomberg reported Tuesday, citing people familiar with the matter. Reuters said it couldn't independently verify that report. Botswana remains central to any transaction because it holds a right of first refusal and hasn't said whether it will exercise it. The country supplied about 70% of De Beers' rough-diamond production last year. A presidency spokesperson said Tuesday the government wouldn't comment until a transaction had been concluded and signed, Reuters reported. Officials said this summer they expected completion in the fourth quarter. Richemont, controlled by South African billionaire Johann Rupert, owns Cartier, Van Cleef & Arpels and watchmaker Vacheron Constantin. Signet's brands include Kay, Zales, Jared and Canada's Peoples Jewellers. Investment by jewellery interests in mining isn't unprecedented: Graff Investments holds 15% of Gem Diamonds (LSE: GEMD), which operates Lesotho's Letšeng mine. Anglo put De Beers up for sale in May 2024 as part of a broader restructuring after fending off BHP's (ASX: BHP) takeover approach. Independent diamond analyst Paul Zimnisky told MINING.COM earlier this year that a buyer with sufficient capital and strong execution could revive the business, with the loss of competing independent producers and sanctions on Russian diamonds strengthening its longer-term supply position.