--- title: "Anglo American Books $2.3 Billion De Beers Writedown, Earnings Rise 2%" type: "News" locale: "en" url: "https://longbridge.com/en/news/276483739.md" description: "Anglo American has recorded a $2.3 billion impairment on De Beers, totaling $6.8 billion in writedowns amid ongoing industry challenges. De Beers reported a $511 million loss due to weak demand and tariffs. Despite this, Anglo's underlying earnings rose 2% to $6.4 billion, driven by copper and iron ore. The company is restructuring to focus on copper, with plans to divest De Beers and coal assets. An acquisition of Teck Resources is underway, aiming to enhance its copper production. Shares have increased over 50% in the past year as copper prices soar." datetime: "2026-02-20T20:40:40.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/276483739.md) - [en](https://longbridge.com/en/news/276483739.md) - [zh-HK](https://longbridge.com/zh-HK/news/276483739.md) --- # Anglo American Books $2.3 Billion De Beers Writedown, Earnings Rise 2% Anglo American (NGLOY) has taken another step deeper into the diamond downturn, booking a further $2.3 billion impairment on De Beers as one of the industry's most prolonged crises continues to weigh on performance. The latest charge marks the third writedown in two years, bringing total impairments on the unit to $6.8 billion and reducing its carrying value to $2.3 billion. De Beers reported a $511 million underlying loss, reflecting pressure from weaker Chinese luxury demand and the rising popularity of synthetic stones. The strain has been compounded by US tariffs on India the world's largest diamond exporter after President Donald Trump imposed 50% levies in August, though he has said a rollback could be in place by April. Chief Executive Officer Duncan Wanblad said on a call with reporters that he hopes this represents a low point. Against that backdrop, Anglo's core operations delivered a steadier performance. Underlying earnings from continuing operations rose 2% to $6.4 billion, supported by stronger copper and iron ore results, while the company cut its final dividend by 27% from the same period last year. Net debt declined to $8.6 billion. The restructuring plan first unveiled in 2024 to fend off an approach from BHP Group remains central to the equity story, with Anglo moving to exit diamonds, coal and platinum and reposition itself around copper. It has already spun off its South African platinum assets, though the divestments of De Beers and its coal business are still in progress. Wanblad said the company expects final bids for the coal unit in the second quarter and remains optimistic that a deal to sell De Beers could be reached this year. Investor focus, however, appears anchored on copper and the agreed acquisition of Teck Resources Ltd. , a transaction that would establish Anglo as one of the world's largest copper producers. The deal would add Teck's portfolio of copper mines, including the Quebrada Blanca mine in northern Chile, which neighbors Anglo's Collahuasi project. Shareholders of both companies have approved the transaction, and Anglo is working through regulatory approvals, with no positive or negative indications from China and an expected conclusion between September and March, Wanblad told Bloomberg TV. The company's shares have rallied more than 50% over the past year as copper prices surged to record highs. Anglo also announced an investment agreement with Mitsubishi Corporation that could lead to the Japanese firm taking a 25% stake in the Woodsmith fertilizer project, potentially supporting its future development as the portfolio reshaping continues. ### Related Stocks - [AAL.UK](https://longbridge.com/en/quote/AAL.UK.md) - [PICK.US](https://longbridge.com/en/quote/PICK.US.md) - [XME.US](https://longbridge.com/en/quote/XME.US.md) - [TECK.US](https://longbridge.com/en/quote/TECK.US.md) - [APF.UK](https://longbridge.com/en/quote/APF.UK.md) - [NGLOD.US](https://longbridge.com/en/quote/NGLOD.US.md) - [DBB.US](https://longbridge.com/en/quote/DBB.US.md) ## Related News & Research - [Star Copper Engages former Teck Resources Exploration Manager Klaus Heppe as Strategic Advisor | STCUF Stock News](https://longbridge.com/en/news/287020579.md) - [CEO.CA's Inside the Boardroom: Hayasa Metals Has First-Mover Advantage in Armenia Gold and Copper with Teck as Partner | HAYAF Stock News](https://longbridge.com/en/news/286911835.md) - [Anglo American (LON:AAL) Insider Buys £121.68 in Stock](https://longbridge.com/en/news/286856780.md) - [Assessing Teck Resources (TSX:TECK.B) Valuation After New Germanium Recovery Agreement With Titan Mining](https://longbridge.com/en/news/286866287.md) - [See How Century Aluminum Ranks Among Analysts' Top Metals Picks](https://longbridge.com/en/news/287250614.md)