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ALEX BRUMMER: Copper displaces diamonds as Anglo American puts De Beers up for sale By Alex Brummer for the Daily Mail Updated: 22:00 BST, 27 May 2024 e-mail View comments Diamonds have been the core of Anglo American since the modern company was created by Ernest Oppenheimer nearly a century ago. In an industry where brands stand for little, De Beers is the great exception. Its products have inspired generations of young people embarking on married life, and the gems remain the sparkling star of movies and legends.

As glamorous as De Beers has been, with its arresting 1947 catchphrase ‘A diamond from a mine is forever,’ the company is now up for sale. The allure of diamonds has been surpassed by the work-a-place copper – a metal less regarded than more decorative rivals such as platinum, silver and gold. In demand: Copper prices have climbed 20% this year touching a record of $11,000-a-tonne this month The drive towards a greener, carbon-free economy has changed all of that.



Copper prices have climbed 20 per cent this year touching a record of $11,000-a-tonne this month. Some traders predict a glorious future for the reddish metal with the value perhaps quadrupling to $40,000-a-tonne. There is a history of speculators seeking to making a fortune out of copper.

In the 1990s Japanese bank Sumitomo lost $2.6billion (£2billion) at the hands of disgraced trader Yasuo Hamanaka. Giants of the mining world are seeking to double down on the metal.

The proposed disposal of De B.

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