Anglo American Platinum Ltd. said profit last year fell by as much as 52% after the price of palladium and rhodium slumped.

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Anglo American is conducting an “impairment review” of its De Beers business due to poor conditions in the diamond market and preparing to write down the unit’s value ahead of a planned demerger.

Anglo American has long been a leading player within the global mining market, with projects spanning its century of operations within some of the most valuable metal markets in the world including, ...