De Beers Sale Could Face 18 Months Of Regulatory Reviews

(IDEX Online) - The long-awaited sale of De Beers could easily take 18 months to clear regulatory hurdles, says Duncan Wanblad, CEO of parent company Anglo American, once a deal is finally agreed.

He told Miningmx, the South African mining publication, that such a process was no small matter.

"We won't know exactly which jurisdictions we need to file in until we've got the final group of consortium buyers confirmed," he said.

"De Beers currently trades in the US, China, Europe, so we should expect it'll require approval there too, just given market concentrations and so on."

His comments cast serious doubt on hopes that a De Beers deal could be reached before the end of 2026.

Even if the company signs an agreement during that period, the transaction may remain subject to a lengthy review.

Anglo has been trying to divest its loss-making diamond division since May 2024, when it announced a restructuring intended to sharpen the group's focus on copper and iron ore.

The company has previously said it expects a transaction before the end of 2026. But that target appears to refer to reaching an agreement, not necessarily completing the sale and transferring ownership.

The front-runner in the race to buy De Beers appears to be the Global Diamond Consortium, led by former De Beers managing director Gareth Penny.

Wanblad has, however, insisted that the company is not exclusive with any consortium and that more than one group remains involved in the process.