Anglo American flags De Beers restructuring as profits fall

FINANCIAL TIMES 🔒| Anglo American insisted the diamond market was in “a very positive place” despite an earnings slump at its De Beers unit, where staff were briefed on a restructuring of the business that will lead to job losses.

The $80bn diamond industry has been paralysed by the coronavirus pandemic with every part of the supply chain from mines in South Africa, to cutters and polishers in India, to retail stores in New York hit by lockdowns and travel restrictions.

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