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De Beers parent mulls production cuts

Anglo American, the parent company of De Beers, said on Thursday that it is seeking to cut more diamond production as the industry continues to struggle with weak demand and excess inventory. While the group currently maintains the production target for its De Beers division, Anglo American stated that it is considering how to further reduce production. Due to the ongoing downturn in the diamond market, the company is contemplating selling or spinning off its De Beers business.

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