How De Beers Went From Star to Scapegoat
By Rob Bates, JCK
Here is how fast things can change in the diamond industry.
In March 2014, Anglo American’s CEO Mark Cutifani, then a year into the job, publicly fretted his company had overpaid for De Beers in 2011. “The acquisition is not delivering what we would expect it to deliver,” he said, adding that he wants De Beers to attain a 15 percent return on capital employed (ROCE).