British giant has to sell its company, and was defeated by a Henan local on his own, now it's really resentful!
In early 2026, a shocking news surfaced in the global luxury and mining circles: Anglo American Group is planning to sell 20% to 30% of its stake in De Beers, and the buyer is likely an African sovereign state. This move may seem like a capital restructuring, but in fact, it reveals that a century-old "diamond myth" is accelerating its collapse — and the final straw that broke the camel's back came from a group of "lab-grown diamond craftsmen" in Henan.
Since its rise in the late 19th century, De Beers has relied on its monopoly over global diamond sources and a carefully designed marketing strategy — such as the deeply ingrained slogan "A Diamond is Forever" — successfully packaging carbon crystals into the ultimate symbol of love, status, and wealth. For more than a century, it almost controlled more than 80% of the global diamond supply, setting prices and telling stories.
But this all began to waver in the second decade of the 21st century. The key turning point was neither in Africa nor in London, but in Henan Province in central China. Centered around Shangqiu, Xuchang, and Zhengzhou, Henan gradually developed the most complete and efficient industrial chain for lab-grown diamonds worldwide. These companies do not rely on mining, but instead use high-temperature and high-pressure methods (HPHT) or chemical vapor deposition (CVD) to "grow" lab-grown diamonds that are purer and cheaper than natural diamonds within weeks.
As of 2025, China has accounted for nearly 70% of the global production of rough lab-grown diamonds, with over 90% produced in Henan. The retail price of lab-grown diamonds has dropped by more than 60% on average over the past five years. A one-carat diamond ring that once cost tens of thousands of yuan can now be bought on e-commerce platforms for just a few thousand yuan, offering the same appearance or even higher clarity.
Against this backdrop, Anglo American Group had no choice but to "painfully part with" its shares in De Beers. On the surface, the company said it would focus on core copper and iron metal businesses, but in reality, it admitted that diamond assets have shifted from a "cash cow" to a "hot potato." More ironically, potential buyers include African countries such as Botswana and Namibia — former colonies that were long controlled by De Beers and had little pricing power, now become the ones taking over.
Original article: toutiao.com/article/1856901196059657/
Statement: This article represents the personal views of the author.