According to the Mail on Sunday, De Beers is actively exploring both options—an IPO or a sale—highlighting that both remain under consideration.

Industry analyst Raj Ray of BMO Capital Markets noted that public markets have been challenging for diamond firms, with a subdued near to medium-term outlook. Anglo American’s CEO, Duncan Wanblad, has previously mentioned that the company would evaluate a trade sale, demerger, or IPO to maximize value for shareholders.

This move follows Anglo American’s announcement in May that it would shift its focus towards copper and other more profitable commodities, after an unsuccessful takeover attempt by Australian mining giant BHP.