The collapse is driven by the rise of reactor-grown diamonds in China and a 96% crash in wholesale synthetic prices, which have fallen to about $100 a carat. This price erosion is evident at the retail level, where Walmart sells half-carat lab-grown diamond earrings for $12. Data from The Knot shows that 61% of engagement rings sold in 2025 featured lab-grown center stones, up 239% since 2020, while De Beers' own average selling price dropped 32% in one year to $105 a carat.
Tuesday, October 20, 2026
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Anglo American Negotiates $1B Sale of De Beers After $18B Peak
Business8 days ago
The former monopoly of the global diamond trade is being divested by its parent company to curb losses from a crashing market. Anglo American is currently in negotiations to sell De Beers for approximately $1B, following a $6.8B write-down of the business over the last two years. The unit's valuation has plummeted from a peak of $18B in 2001 and $13B in 2011, reflecting a steep decline in the demand for natural gems.
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