Anglo American Plc has selected a consortium led by Gareth Penny, the former chief executive of De Beers, as the preferred bidder for the sale of the world's largest diamond mining company, according to people familiar with the matter who spoke to Bloomberg Markets.

The decision marks a significant step in Anglo American's strategic restructuring as it seeks to divest its majority stake in De Beers. Penny, who previously ran the diamond giant for nearly a decade, brings deep industry knowledge and established relationships across the diamond value chain to the bidding group.

The selection of Penny's group signals Anglo American's preference for a buyer with intimate operational expertise rather than purely financial investors. The transaction would reshape the global diamond industry landscape, potentially returning De Beers to leadership with direct experience navigating its unique market dynamics and regulatory environment.

Final terms and valuation details remain under negotiation, with the outcome likely to influence diamond supply chains and pricing structures worldwide.