Q1 Diamond Production Up 25% for De Beers
Rio Tinto, meanwhile, saw production slip due in part to COVID-related employee absences.

First-quarter production for De Beers totaled 8.9 million carats, up 25 percent from Q1 2021 (7.2 million carats) and 16 percent when compared with the previous quarter (Q4 2021, at 7.7 million carats).
South Africa, where De Beers has just one mine now, Venetia, posted the highest year-over-year production increase at 46 percent due to treatment of higher-grade ore from the final cut of the open pit.
Production in Namibia was up 33 percent primarily due to higher recovery from Namdeb’s ocean crawler vessels, with less planned maintenance on the Mafuta and the new diamond recovery vessel, the $420 million Benguela Gem, rolling out earlier than expected.
Production in Botswana, where De Beers operates with the government as Debswana, rose 25 percent from increased processing at Orapa and Jwaneng, as well as planned higher grades.
The only country to record a decline in first-quarter diamond production for De Beers was Canada.
Production at the company’s only mine there, Gahcho Kué, fell 15 percent as a result of treating lower-grade ore.
In the release for its Q1 production results, De Beers shared the same sentiment it did when reporting its most recent rough diamond sales.
Demand for rough diamonds has remained robust in 2022, it said, but current events, including the war in Ukraine and recent COVID-19 outbreaks in China, have diamond companies on alert going into Q2.
“As we head into the seasonally slower second quarter of the year, diamond businesses are adopting a more cautious and watchful approach in light of the war in Ukraine and associated sanctions, as well as the impact of COVID-19 lockdowns in China,” De Beers said.
The company’s production guidance for the year remains unchanged at 30-33 million carats.
The miner recovered 991,000 carats at Diavik, down 1.6 percent when compared with the first quarter 2021 (1 million carats) and 14 percent from the previous quarter (Q4 2021, 1.2 million carats).
Rio Tinto said COVID-related employee absences and an unplanned outage that impacted processing affected its first-quarter results.
Despite the slow start, the miner’s guidance still calls for Diavik’s production to top last year’s, totaling between 5-6 million carats, compared with 3.8 million carats in 2021.
Diavik is Rio Tinto’s only active diamond mine. It took 100 percent ownership of the mine in November 2021.
The Latest

Sponsored by the Gemological Institute of America

The 2025 Australian Open champion is the jewelry brand’s first athlete ambassador.

The West Village jewelry boutique’s new shop-in-shop is the cornerstone of Nordstrom’s revamped jewelry hall.

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

The brand’s “Golden Strada” statement necklace features round, marquise, and pear diamonds that sparkle like Fourth of July fireworks.


JSA’s Scott Guginsky provided a list of nine security measures jewelers should observe while locking up for the long weekend.

Located on Rodeo Drive, the store’s design was inspired by Hollywood and Los Angeles culture.

The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.

The new location continues the brand’s celebration of its 25th anniversary.

The online watch marketplace’s “Time Is Our Thing” campaign highlights the importance of time.

Working with Amazon’s Counterfeit Crimes Unit and law enforcement, Pandora helped to shut down a large-scale counterfeit network in China.

The jewelry company has closed its three California brick-and-mortar stores, as well as its online shop, for now.

The company is providing the opportunity for an FIT student to work alongside master diamond cutter Willie Lopez in its workshop.

He is remembered for his successful entrepreneurship, generosity, and dedication to his family.

The jewelry store chain has reportedly been struggling with costs related to tariffs as well as tough retail competition.

Welcome warm summer days with red hot rubies perfectly chosen as July’s birthstone.

Co-founders Afzal Imram and Lin Ruiyin brought their son’s story of a cosmic egg, toadstool, and railroad to life in their new collection.

The best time to prepare for the holiday season is right now, according to columnist Emmanuel Raheb.

This year’s winner is Morgan Keefe, who is currently studying at GIA to be a gemologist.

“The Jewelry Book” comes out this September.

The company is focused on modernizing the custom jewelry buying experience with e-commerce tools like product visualization and 3D styling.

Following its recent acquisition, the storied brand has updated its leadership team and regional managers.

AGS also named the recipient of its “Women in Leadership” scholarship.

The 20-karat yellow gold and diamond wrap ring is modeled after the Monstera plants in the garden of the brand’s Miami villa.

Rocksbox President Allison Vigil shared the retailer’s expansion plans, and her thoughts on opening stores in malls.

The creator of the WJA Chicago chapter is remembered as a champion for women in the jewelry industry and a loving grandmother.

The decline was consistent across age groups and almost all income groups, with tariffs and inflation still top of mind.