Anglo American, the London-listed mining group, is locked in a power struggle with the Oppenheimer family. It has a 45% stake in DeBeers and would like to increase its stake in DeBeers, sidelining the Oppenheimers. “The remaining 10% is held by Debswana, a joint venture between De Beers and the government of Botswana, where most of its diamonds are mined,” said Anglo American. Anglo American is already having some success in persuading the Oppenheimers to take a back seat in De Beers.

"Anglo American has increasingly been calling the shots and there is a lot of in-house disquiet at the Oppenheimers role," said analyst James Picton of WH Ireland in a conversation with the Financial Times. "At the end of the day, DeBeers is a division of Anglo, not the Oppenheimers private fiefdom. They will just have to do what they are told." DeBeers announced that Jonathan Oppenheimer would step down from his role as managing director of De Beers Consolidated Mines (DBCM), after less than two years in the job. He will work alongside his father, Nicky Oppenheimer, in a less hands-on role. Anglo American last month announced a strategic overhaul, including possible asset disposals and a new focus on platinum, diamonds, coal, iron ore and copper.%%DeBeers was delisted from the Johannesburg stock exchange in 2001 and is seeking advice about returning to a public share listing. Under a renewed listing, Anglo American could take a bigger stake in De Beers and greater management control. The Oppenheimers would receive a windfall - at least $4 billion, based on De Beers current estimated value of $9 billion - for relinquishing their stake. DeBeers denied that it will list again. "DeBeers listing again is a story that definitely stands up and it would be a good idea. De Beers recently gave an incredibly detailed presentation to Anglo American analysts. There is absolutely no need for a private company to give all this information away, so I believe they are preparing the ground for the market," said Picton.%%At the time of its delisting in 2001, DeBeers was valued at £9.3 billion, which included the companys non-diamond portfolio and a 38% stake the Oppenheimers held in Anglo American and which they agreed to relinquish as part of the delisting. De Beers current valuation of $9 billion is described as "extremely conservative" by Picton