SourcingJan 26, 2022
Diamond Sales Surged 49% for Alrosa in 2021SourcingFeb 01, 2022
In Response to Demand, De Beers Ramps Up Production
Fourth-quarter production was up 15 percent year-over-year, with the full-year total topping 32 million carats.
A shot of the entrance to the Jwaneng mine in Botswana, one of the major contributors to De Beers’ Q4 production uptick. The company mined 7.7 million carats of diamonds, up from 6.7 million in the prior-year period.
London—De Beers Group ramped up production in the fourth quarter in order to meet continued consumer demand for diamond jewelry.
The diamond miner and marketer reported late last week that Q4 2021 production was up 15 percent to 7.7 million carats, compared with 6.7 million carats in Q4 2020, principally from the Jwaneng mine in Botswana and its operations in Namibia.
Production in Botswana was up 23 percent to 5.2 million carats compared with 4.3 million carats in the prior-year period.
Namibia posted a 16 percent increase in production to 392,000 carats, while production in South Africa was flat at 1.29 million carats and production in Canada fell slightly (771,000 carats vs. 776,000 in Q4 2020).
For 2021, De Beers’ rough diamond production was up 29 percent to 32.3 million carats compared with 25.1 million carats in 2020, a year in which COVID-19 had a significant impact on mining operations.
South Africa recorded the largest increase for the year with production up 41 percent, while production rose 35 percent in Botswana and 1 percent in Namibia.
Production in Canada slipped 4 percent.
De Beers forecasts full-year production could increase slightly in 2022, with its current guidance set at 30 million-33 million carats.
Related stories will be right here …
The diamond miner and marketer reported late last week that Q4 2021 production was up 15 percent to 7.7 million carats, compared with 6.7 million carats in Q4 2020, principally from the Jwaneng mine in Botswana and its operations in Namibia.
Production in Botswana was up 23 percent to 5.2 million carats compared with 4.3 million carats in the prior-year period.
Namibia posted a 16 percent increase in production to 392,000 carats, while production in South Africa was flat at 1.29 million carats and production in Canada fell slightly (771,000 carats vs. 776,000 in Q4 2020).
For 2021, De Beers’ rough diamond production was up 29 percent to 32.3 million carats compared with 25.1 million carats in 2020, a year in which COVID-19 had a significant impact on mining operations.
South Africa recorded the largest increase for the year with production up 41 percent, while production rose 35 percent in Botswana and 1 percent in Namibia.
Production in Canada slipped 4 percent.
De Beers forecasts full-year production could increase slightly in 2022, with its current guidance set at 30 million-33 million carats.
As Alrosa noted in releasing its full-year 2021 results, strong demand for diamond jewelry continued in the United States over the holiday season.
De Beers’ rough diamond sales totaled 7.7 million carats from three sights in the fourth quarter compared with 6.9 million carats from two sights in the prior-year period.
The full-year consolidated average realized price for rough diamonds was up 10 percent to $146 per carat, compared with $133 per carats in 2020, primarily due to positive market sentiment, De Beers said.
More on Sourcing
The Latest
EditorsNov 22, 2024
Out & About: Inside the CD Peacock MansionStep inside the nearly 21,000-square-foot suburban Chicago jewelry store with Editor-in-Chief Michelle Graff.
CollectionsNov 22, 2024
Piece of the Week: Xander Jane’s ‘Spiked’ Pearl StudsThese punk-inspired earrings from the new Canadian brand’s debut collection reveal the alter ego of the classic pearl.
Supplier BulletinNov 21, 2024
Tasha R Releases 2025 Labbelle Lab Diamond Jewelry CatalogSponsored by Tasha R
Brought to you by
Navigating Cybersecurity: Essential Guidance for JewelersFrom protecting customer data to safeguarding inventory records, it's crucial to learn how to tackle cybersecurity challenges.
AuctionsNov 21, 2024
Gold Watch Gifted to Titanic Rescue Ship Captain Sells for $2MThree Titanic survivors presented him with the personalized Tiffany & Co. timepiece about a year after the tragedy.
Weekly QuizNov 21, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsNov 21, 2024
Harris Jewelry Ordered to Reopen Claims Portal for Refund RequestsA federal court found that the jewelry store chain violated terms of the settlement reached after it was accused of defrauding customers.
CollectionsNov 21, 2024
Channel Elphaba in Muse’s ‘Have a Heart x Cynthia Erivo’ CollectionCynthia Erivo chose Dreams of Hope, an organization dedicated to empowering LGBTQA+ youth, as the charity for this year’s collection.
Brought to you by
Enhance Your Expertise with IGI’s In-Person Courses in NYCThis fall, sharpen your skills in jewelry grading, quality control and diamond assessment.
MajorsNov 21, 2024
Rocksbox Opens Pop-Up Store in San FranciscoThe new space was designed to evoke a warm, inviting vibe.
IndependentsNov 21, 2024
Mary Moses Kinney Is Now Part of The Edge’s Team Kinney, who spent nearly 30 years at IJO, has been hired to head Abbott Jewelry Systems’ new virtual marketplace.
CrimeNov 20, 2024
Sotheby’s to Pay $6.25M Settlement to NY State for Alleged Tax FraudThe auction house was accused of helping clients avoid paying taxes on millions of dollars’ worth of art purchased from 2010 to 2020.
Events & AwardsNov 20, 2024
Kering Debuts New Jewelry Award With Sustainability FocusThe four finalists will present their pieces at the 2025 JCK Las Vegas show.
CollectionsNov 20, 2024
Pamela Love Channels Surrealist Artists in New CollectionThe “Camera Oscura” collection showcases earring designs celebrating female Surrealist artists Claude Cahun and Leonor Fini.
Policies & IssuesNov 20, 2024
Columbia Gem House Raises $10K for Reforestation EffortsThe money will fund the planting of 10,000 trees in critical areas across Oregon, Arizona, Montana, and other regions.
Events & AwardsNov 20, 2024
The Jewelry Symposium Opens Registration, Scholarship ApplicationsThe event centered on advancing jewelry manufacturing technology will return to Detroit in May 2025.
CrimeNov 19, 2024
Woman Killed in Armed Robbery of Sacramento Jewelry StoreLocal reports identified the woman as the wife of the jewelry store owner.
AuctionsNov 19, 2024
‘A Tsar’s Treasure’ Fetches $2.9M at Sotheby’s Jewelry SaleA collection of pieces owned by Ferdinand I, the first king of modern Bulgaria, and his family, blew away estimates in Geneva last week.
MajorsNov 19, 2024
Trove Opens First US Flagship in NYCThe Australian jewelry box brand’s new West Village store will showcase new jewelers each month through its Designer in Residence program.
CollectionsNov 19, 2024
Snoop Dogg’s New Jewelry Collection Is All About Love“Lovechild” was created in partnership with Carolyn Rafaelian’s Metal Alchemist brand.
EditorsNov 18, 2024
Q&A: Helzberg CEO Brad Hampton on the Jeweler’s RebrandHampton discussed how Helzberg is improving the customer experience and why it was inspired by the company formerly known as Dunkin’ Donuts.
Policies & IssuesNov 18, 2024
Reciprocity Jewels Returns to NYC Jewelry WeekThe group will host several curated events and an exhibition of designer jewelry made with Peruvian gold traceable to the miners’ names.
CollectionsNov 18, 2024
Dolly Parton Shines in Collaboration with Kendra ScottThe collection honors the 50th anniversary of Dolly Parton’s “Love is Like a Butterfly” song, which shares a birth year with Kendra Scott.
Events & AwardsNov 18, 2024
IGI Jewelry Design Competition ReturnsThis year’s theme asks designers to take inspiration from classic fairy tales.
EditorsNov 15, 2024
Why Fine Jewelry Belongs at New York Comic ConSenior Editor Lenore Fedow makes the case for why more jewelers should be appealing to nerds at the annual event.
CollectionsNov 15, 2024
Marie Lichtenberg Battles Counterfeits with New ‘Raiz’in Scapular’ DesignsThe latest “Raiz’in” drop showcases a newly designed “Scapular” necklace and donates a portion of the proceeds to Make-A-Wish France.
WatchesNov 15, 2024
Piece of the Week: Citizen’s Commemorative Pocket WatchNo. 1 out of 100, the timepiece was created to mark Citizen’s 100th anniversary and will be auctioned off at Sotheby’s next month.
Recorded WebinarsNov 15, 2024
Watch: 10 Tips to Keep Your Jewelry Store Secure On the latest episode of “My Next Question,” two experts share best practices for store security during the holidays and year-round.
