Anglo American's diamond business is getting crushed

Anglo American has serious problems right now, and the company's diamond business isn't helping.

The miner, which owns 85% of De Beers — probably the most famous diamond company on the planet — just released its third quarter production report, things don't look good.

The company has slashed production of diamonds by 27% in the past quarter "to better reflect current trading conditions" according its statement on Thursday.

Diamonds are historically one of Anglo American's key...

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