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

Editor-in-Chief Michelle Graff is joined by three industry veterans to talk about the items they never leave behind and why.

German jewelry artist Alexander Blank is the fourth designer to receive the honor.

The answer is “Hair,” and the necklace is from Chopard’s 2022 Red Carpet Collection, rolled out at the Cannes Film Festival.

Provide your customers with a seamless selling solution by partnering with Windsor Jewelers, Inc.

Sponsored by Italian Trade Agency


Jewelry and objects belonging to Bette Midler, heiress Hélène Irwin Crocker Fagan, and Lady Sylvia Ashley were among the highlights.

The company opted not to raise its fiscal guidance, citing a slowdown in the U.S. market as a key reason.

When it comes to knowing the identity and quality of your pearls, count on GIA as your independent pearl experts.

From “old-school” eBay to new kid on the block 1stDibs, we asked jewelers about their experiences selling jewelry in non-traditional places.

She has nearly 30 years’ experience in the gem and jewelry industry and a background in nonprofit management.

Senior Editor Brecken Branstrator chooses the pieces she’d most want to see in person.

The actress joins Zendaya and others in a new advertising campaign.

Owner Steve Delzio shares his thoughts on retirement after nearly five decades in the jewelry industry.

“I Fear for This Boy” takes readers through the ups and downs of his business and is available for pre-order now.

“Today’s Wedding Jewelry Consumer” shares data about engagement ring market size, lab-grown and natural diamonds, and more.

Columnist Lilian Raji wants to walk you through the customer journey. But first, she’d like you to answer a few questions.

Several Couture brands have partnered with Platinum Guild International ahead of the jewelry trade show.

The jewelry company is moving into bridal just a month after branching out into the watch world.
The Generating Community Impact fundraiser on June 11 will feature Karine Bah Tahé of Blue Level Training.

Kaiser, whose illustrious career spanned decades, died suddenly on Friday.

The family-owned jeweler is relocating its Braintree, Massachusetts, store to a new space.

He will step into the retailer’s newly created role of chief development officer.

GemIntro is meant to give a broad introduction to gems and gemology.

Three industry experts discuss “recycled” gold vs. mined, their challenges and benefits, and how jewelers can navigate the area.

Cartier, Van Cleef & Arpels, and Buccellati put on stellar performances.

The New York jeweler made this incredible, colorful Art Deco bracelet featuring tropical birds in 1927.

From a slowdown in sales growth to rising costs, Fruchtman Marketing outlines its expectations for the second half of the year.