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Ivan Glasenberg of Glencore Says ‘No’ To Buying DeBeers

 

Mark Cutifani, CEO of Anglo-American, said he is willing to sell the DeBeers segment of his business, but Swiss-based Glencore doesn’t want to buy it. DeBeers is the second largest diamond miner in the world, and has significant name recognition.

Ivan Glasenberg, CEO of Glencore, said he won’t be making a bid for DeBeers. However, it isn’t because Glasenberg doesn’t think DeBeers isn’t a good company; he clarified that Glencore only extracts minerals it is already engaged in trading, and the company does not trade in platinum or diamonds.

 

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