Sparkling performance at De Beers
De Beers, the diamond mining subsidiary of mining giant Anglo American, saw a sharp rise in earnings last year.
You are now subscribed
Your newsletter sign-up was successful
Want to add more newsletters?
Twice daily
MoneyWeek
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
Four times a week
Look After My Bills
Sign up to our free money-saving newsletter, filled with the latest news and expert advice to help you find the best tips and deals for managing your bills. Start saving today!
De Beers, the diamond mining subsidiary of mining giant Anglo American, saw a sharp rise in earnings last year.
De Beers's achieved underlying earnings of $968m in 2011, against a 2010 figure of $598m.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
For full year 2011 however, Anglo will only receive 45% of the earnings - the level of its stake before the takeover. This amounts to $443m.
The significant increase in earnings over 2011 emphasises the case for the $5.1bn transaction, which ended the Oppenheimer family's 80-year involvement in De Beers.
BS
-
How a ‘great view’ from your home can boost its value by 35%A house that comes with a picturesque backdrop could add tens of thousands of pounds to its asking price – but how does each region compare?
-
What is a care fees annuity and how much does it cost?How we will be cared for in our later years – and how much we are willing to pay for it – are conversations best had as early as possible. One option to cover the cost is a care fees annuity. We look at the pros and cons.
