RBC Capital Markets described Richemont’s reported move to join the consortium buying De Beers as “strategically meaningful,” while Jefferies called it “sound.”
LONDON — Could Richemont and Signet help save the embattled diamond industry?
According to a Bloomberg report, the two jewelry giants are in advanced talks to join the Global Diamond Consortium, which is tipped to buy De Beers from its majority owner Anglo American.
Led by former De Beers CEO Gareth Penny, the GDC includes the countries of Namibia and Angola. Botswana, which part-owns De Beers, is planning to increase its stake in the miner to 25 percent from 15 percent.
Natural diamond prices have been under assault due to the proliferation of lab-grown gems, which are selling at a fraction of the price and available everywhere from high-end jewelry stores to supermarkets.
According to RBC Capital Markets, synthetic diamonds now constitute 50 percent of total diamond volume, and 15 percent of total diamond value. The popularity of lab-grown gems is wreaking havoc on the prices of natural rocks.
In the first half of 2026, De Beers’ rough-diamond price index fell 16 percent year-over-year, while the average realized diamond price fell 32 percent to $105 per carat.
As reported, Anglo American is selling its 85 percent stake in De Beers as part of a wider restructuring plan to simplify its portfolio, create value for shareholders and divest noncore businesses. Going forward Anglo American will focus on the more lucrative copper, iron ore and fertilizer sectors.
The mining giant is looking to sell its stake in De Beers for around $1 billion.
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