https://www.miningweekly.com

Receive our free daily newsletter:

Gareth Penny

Gareth Penny is a South African businessman who served as CEO of De Beers for five years until 2010, leading the diamond miner through the global financial crisis via mine closures and a $1-billion rights offer. He later became chairperson of asset manager Ninety One. Since 2025 he has headed Global Diamond Consortium (GDC), an investor group that includes Namibia and Angola alongside major diamond manufacturing companies, which emerged as the preferred bidder to acquire Anglo American's 85% stake in De Beers. The consortium's proposal, valued at about $1-billion plus performance-based payments, aims to refocus De Beers on the mining and marketing of natural diamonds and has attracted interest from luxury group Richemont and US retailer Signet Jewelers in joining as partners. Botswana, which already owns 15% of De Beers and supplies most of its production, is weighing whether to exercise its right of first refusal alongside or instead of Penny's consortium. Penny recurs in coverage as a central figure in the prolonged, high-profile sale process for one of the world's best-known diamond businesses, amid a deep slump in the diamond market driven by weaker Chinese demand and competition from lab-grown stones.

Gareth Penny News


Anglo's Quellaveco mine
Anglo sticks to copper forecast after snow in Chile hits quarter
20th October 2026 By: Reuters

Anglo American reported a 5% fall in third-quarter copper production on Tuesday after record snowfall in Chile, but maintained its 2026 forecast for the metal and raised its diamond production... 


Richemont chairperson Johann Rupert
Luxury giant Richemont and Signet in talks to join bidder for De Beers
15th October 2026 By: Bloomberg

Luxury giant Richemont and US retailer Signet Jewelers are in talks to join a consortium that’s in prime position to buy diamond miner De Beers, according to five people familiar with the matter.... 


The Quellaveco mine
Anglo American first-half loss shrinks, lifts dividend as Teck merger awaits approval
30th July 2026 By: Reuters

Anglo American said on Thursday its first-half loss more than halved, raised its dividend and reported further progress on its sweeping restructuring and proposed merger with Teck Resources. The... 


The De Beers logo on a building
Wanblad says Anglo not exclusive with any consortium on De Beers sale
30th July 2026 By: Reuters

Anglo American CEO Duncan Wanblad said on Thursday the company was "not exclusive with any consortium" on the sale of its diamond unit De Beers. This follows recent media reports that the... 


Rough diamonds recovered by De Beers
Anglo said to be in talks to sell De Beers for about $1bn
29th July 2026 By: Bloomberg

Anglo American is discussing a deal worth about $1-billion to sell its De Beers diamond business, just a fraction of what the one-time diamond monopoly was once worth. Anglo has been looking to... 


Anglo American's Los Bronces mine
Anglo flags first-half loss at diamonds, coal units; cuts copper cost outlook
23rd July 2026 By: Reuters

Anglo American reported broadly flat first-half copper production on Thursday and lowered its 2026 copper cost guidance, but said its diamonds and steelmaking coal businesses are expected to post... 


Haul trucks in operation at a Debswana mine
Botswana says Anglo picks De Beers buyer, weighs options for 'optimal structure'
17th July 2026 By: Reuters

Anglo American has chosen a preferred buyer for its stake in diamond producer De Beers, with Botswana weighing whether to exercise its right of first refusal either on its own, with Anglo's chosen... 


De Beers CEO Al Cook
De Beers CEO sees sale of diamond firm in 'weeks not months'
17th June 2026 By: Reuters

A sale of De Beers, Anglo American's diamond unit, has never been closer, its CEO said on Tuesday, adding that a deal could come within weeks. Anglo put De Beers - one of the world's leading... 


South Africa well represented at record-setting underground marathon
South Africa well represented at record-setting underground marathon
27th October 2025 By: Mariaan Webb

Five South African mining professionals were among 55 runners from 18 countries who made history this weekend by completing the World’s Deepest Marathon, held 1 120 m below the surface in Boliden’s... 


Endiama CEO José Manuel Ganga Júnior
Angola submits bid for Anglo American’s majority De Beers stake
24th October 2025 By: Bloomberg

Angola said it has offered to buy Anglo American’s majority stake in De Beers, facing off against other potential suitors including neighboring Botswana. State-owned Angolan gem producer Endiama... 


A graphic showing the depth of the marathon
Mining industry leaders among 60 amateur runners to take part in the World’s Deepest Marathon
18th July 2025 By: Schalk Burger

In October, 60 amateur runners will compete in the World's Deepest Marathon at one of Europe's deepest mines – the Garpenberg zinc mine, in Sweden – to highlight the safety, innovation and... 


Bruce Cleaver, a former De Beers CEO, is chairperson of Gemfields Group
De Beers draws interest from former CEOs as Anglo starts sale
5th June 2025 By: Bloomberg

Anglo American is about to begin a formal sales process for De Beers, after receiving indications of interest from potential buyers that include two former chief executives of the iconic diamond... 


Mining industry must invest in people as much as in projects
Mining industry must invest in people as much as in projects
20th December 2024 By: Creamer Media Reporter

The mining and minerals industry is at a crossroads. The dual pressures of resource scarcity and environmental sustainability, coupled with the race to decarbonization, the challenge of securing... 


1

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

➕

➕

➕

➕

➕

RESEARCH CHANNEL AFRICA

SUBSCRIBE

➕

➕

➕

➕

➕

➕

➕

➕

➕

➕

CORPORATE PACKAGES

CLICK FOR A QUOTATION

➕

➕







pqt: 0.053s - ct: 0.101s - 219pq - 2rq
Subscribe Now