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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.

Richemont and Signet reportedly interested in acquiring De Beers. South African diamond conglomerate De Beers generated revenue of $3.49bn in 2025, with an underlying EBITDA loss of $511m. According to Bloomberg, Richemont and Signet are reportedly interested in the opportunity and could join a consortium of bidders, the Global Diamond Consortium (GDC). Published on 10/15/2026 at 10:41 am EDT MarketScreener.com According to Bloomberg, the GDC consortium could welcome Signet Jewelers (SIG) and Richemont as members, with the ambition of acquiring De Beers from Anglo American, which owns 85% of the company. According to estimates, this 85% stake in De Beers could be valued at nearly $1bn, implying a valuation of approximately $1.18bn for 100% of the company, before any potential additional payments. For comparison, Richemont generated revenue of €22.4bn in FY 2025/2026 and has a market capitalization of nearly €100bn, while Signet reported annual revenue of $6.81bn for FY 2026. According to AlphaValue, a minority stake could make strategic sense in terms of diamond sourcing, traceability and support for the natural diamond category (costs/margins). "However, we see limited complementarity with Richemont's current brand portfolio. Ultimately, the transaction's appeal will depend on the price and any potential future financing commitments," said Jie Zhang, the analyst covering the company. For now, market participants appear fairly unmoved by Richemont, with the stock trading flat. Anglo American, meanwhile, was down nearly 3.4% in London at lunchtime. (C) MarketScreener.com - 2026

Anglo American to invest $676M in Sishen Iron Ore processing project. 15/10/2026 Anglo American, the multinational mining group, will invest $676 million in an iron ore processing project at the Sishen mine in South Africa, operated by Kumba Iron Ore in the Northern Cape province. The investment signals continued confidence in the country's mineral endowment despite persistent infrastructure constraints and regulatory challenges. The project will deploy ultra-high-density medium separation technology to process iron ore. It represents one of the largest single mining investments announced in South Africa in recent years, and underscores sustained investor interest in the country's mineral potential. Speaking at the Joburg Indaba mining conference, Anglo American chief executive Duncan Wanblad said South Africa remains an important investment destination despite market volatility. He called, however, for more competitive operating conditions for companies seeking to develop new projects, arguing that meaningful improvements to the business environment are necessary. Investment attraction is underpinned by the country's vast mineral reserves and the availability of skilled labour. South Africa is also one of the world's leading sources of platinum group metals (PGMs), used across the automotive and chemical industries, where demand remains stable. Despite these advantages, project development faces significant operational obstacles. Administrative delays affect execution timelines, while limitations in rail and port infrastructure raise costs and hamper exports. Wanblad identified these bottlenecks as priority areas for sectoral reform. The chief executive advocated for streamlined licensing processes, strengthened transport infrastructure, and improved energy security. He also called for the modernisation of the mining cadastre - the system recording licence information and areas available for exploration - to enhance transparency and reduce investor uncertainty. PwC, the international audit and advisory network, noted that limited investment in recent years, combined with rising costs and logistical constraints, has weighed on mining output. Separately, African Rainbow Minerals, the South African mining company, approved the Bokoni platinum group metals project, valued at approximately $935 million. The Minerals Council added that $4.22 billion in committed investment is ready for implementation, largely aimed at sustaining current production levels. Information presented at the Joburg Indaba conference indicated that "South Africa's mineral resources remain a viable investment when operating conditions become more predictable." Private power procurement is advancing to address energy supply limitations. The pace of project approvals, the modernisation of the mining cadastre, and the reinforcement of rail and port capacity will be critical in translating the country's mineral potential into sustained investment. Newsletters Get 360°Mozambique in your inbox. Business, economy and investment in Mozambique - choose the newsletters you want and enter your email. * Daily News Daily Daily News The morning digest of Mozambique's business, economic and political news - what matters, before the working day starts. * The Afternoon Briefing Daily The Afternoon Briefing A concise afternoon update on the stories shaping Mozambique's economy, delivered before close of business. * Daily Market Watch DailyPremium Daily Market Watch Markets, commodities and currencies in one daily briefing: the numbers behind Mozambique's economy, for decision-makers. * Tenders of the Day DailyPremium Tenders of the Day The latest public tenders and procurement opportunities in Mozambique, selected every day for suppliers and investors. * Energy Weekly News Weekly Energy Weekly News The week in Mozambique's energy sector - oil & gas, LNG, power and renewables - in one briefing. * Top 10 Weekly News Weekly · Saturdays Top 10 Weekly News The ten stories that defined the week in Mozambique, curated by the 360°Mozambique newsroom every Saturday. Tell us a little about you (optional)