De Beers Takes Another Hit as Diamond Woes Bite

Anglo American Plc took another writedown on its struggling De Beers diamond unit, and posted a slide in profit, as the miner moves ahead with a radical overhaul of its business.

Last year Anglo, in the process of fending off a $49 billion approach from BHP Group, announced a restructuring that would leave its business focused on iron ore and copper. So far, the plan has gone well. Anglo has agreed to sell its coal and nickel mines and is on course to exit platinum later this year. That just…