LONDON, June 17, 2026, 11:03 BST
- Anglo American shares rose in London, with investors watching for a possible De Beers sale soon.
- Anglo’s diamond exit is central to its move into copper, iron ore, and crop nutrients ahead of the planned Teck merger.
- Main risks are deal timing, getting regulatory approvals, and softer diamond demand.
Anglo American shares ticked up in London Wednesday. Traders looked at chances for a quicker sale of De Beers while the longer process tying up its Teck Resources merger moved forward.
The stock traded 0.21% higher at 4,105.69 pence in delayed LSEG data. Shares have gained about 94% in the last year and remain near the June 2 high of 4,239 pence. Mid-morning volume was slim.
De Beers drove the latest move. CEO Al Cook told Reuters the diamond group could be sold in “weeks rather than months,” saying a deal has “never been closer.” Anglo holds 85% of De Beers, with Botswana owning 15%. Reuters
De Beers is now the sticking point in Anglo’s break-up plan. The miner put the diamond business up for sale in May 2024 with natural stones hit by cheaper lab-grown competition and softer Chinese luxury buying.
Anglo is pressing ahead with other large sales. Back in May, it agreed to offload its Australian steelmaking coal mines to Dhilmar for as much as $3.875 billion in cash. That includes $2.3 billion paid up front and the rest in price-linked earnouts tied to future coal pricing. CEO Duncan Wanblad said the sale was “another major step in the simplification of our portfolio” as the company prepares for the Teck deal. Anglo American
Most analysts viewed the coal sale as a boost for the balance sheet. Richard Hatch from Berenberg called the deal value “positive” for Anglo and a bit better than expected, according to the Financial Times last month. Financial Times
Anglo Teck is still the main target. Both Anglo and Teck say their merger would build one of the world’s top five copper producers, giving it over 70% copper exposure. Anglo shareholders would get about 62.4% of the merged company, while Teck holders would own 37.6%. Before the merger closes, Anglo plans to pay out a $4.5 billion special dividend to its shareholders.
Copper stays at the center of the competition. BHP went after Anglo and Glencore was in talks with Teck before news of the Anglo-Teck tie-up hit, Reuters said. Big miners are looking to boost their copper stakes, eyeing its use in power grids, EVs and data centers.
But there’s little space for complications. A De Beers sale still needs to get past price, funding, and political issues, and the Teck merger has to clear final regulatory approvals. Reuters said in March that Anglo was aiming for a final OK by year-end, with China and South Korea decisions not expected until sometime between September 2026 and March 2027.
Anglo is set to report second-quarter production on July 23. Before then, the stock looks more likely to move on any news about a De Beers buyer or a hitch in that deal, rather than anything routine from its mines.
