Anglo American records a $3.7 billion loss due to impairment of De Beers again

LootboxPhobia · 2026-02-20T10:12:26+00:00

Anglo American reports a $3.7 billion loss due to diamond business impairments. Although core earnings met expectations, the company still faces market pressure and is actively divesting non-core assets. Dividend payouts have been reduced, significantly decreasing De Beers' book value over the past two years.

LootboxPhobia

2026-02-20 10:12:26

Abstract generation in progress

Investing.com - Anglo American (LON:AAL) reported a loss of $3.7 billion on Friday, after the mining company took another significant impairment charge related to its diamond business. The company is currently advancing efforts to divest non-core assets and pursuing a planned merger with Teck Resources (NYSE:TECK).

Use InvestingPro for premium news and deeper insights.

This performance marked a mixed end to the earnings season for London-listed mining companies, highlighting different trends within the sector. Antofagasta (LON:ANTO) benefited from strong copper prices, while more diversified peers faced pressure from weak markets for iron ore, diamonds, and coal.

Anglo American recorded a pre-tax impairment of $2.3 billion related to its De Beers division and announced a dividend of $0.0023 per share, equivalent to about $200 million. In comparison, last year’s dividend was $0.64 per share, approximately $800 million.

The company’s core earnings (EBITDA) from its copper, iron ore, and De Beers businesses totaled $6.4 billion, roughly in line with analyst expectations.

The mining company continues to streamline its asset portfolio. In July, it ceased nickel and steelmaking coal operations, which are now up for sale. Anglo American also divested its platinum division in May and has indicated it is progressing with plans to spin off De Beers.

Over the past two years, the group has reduced the book value of De Beers by approximately $3.5 billion.

This article was translated with the assistance of artificial intelligence. For more information, see our Terms of Use.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

1 Likes