SourcingOct 26, 2022
De Beers Names Lupita Nyong’o as First Global AmbassadorSourcingOct 28, 2022
De Beers Q3 Rough Diamond Production Up 4%
It’s due to higher-grade ore at Orapa in Botswana and in South Africa, as well as “continued strong performance” in Namibia.
De Beers reported Thursday that rough diamond production increased by 4 percent in the third quarter to 9.6 million carats.
London—Rough diamond production swung back to the positive in De Beers’ third quarter, the company announced Thursday.
Production rose 4 percent to 9.6 million carats during the period, following a decrease in Q2 of 4 percent.
The rise in the latest quarter was attributed to the treatment of higher-grade ore at Orapa in Botswana and in South Africa, as well as “continued strong performance” in Namibia, said De Beers.
In Botswana, production was up 4 percent to 6.6 million carats in the quarter, driven mostly by higher-grade ore from Orapa, which was partly offset by processing lower-grade ore at Jwaneng.
Namibia’s production was also up, rising 33 percent to 0.5 million carats, boosted by a strong performance from the Benguela Gem vessel, the company’s new diamond recovery vessel that started operations in March.
South Africa’s production was up 5 percent to 1.7 million carats thanks to the treatment of higher-grade ore and plant upgrades, according to De Beers. Production in Canada, meanwhile, was down 7 percent to 0.7 million carats due to the treatment of lower-grade ore and “the impact of tight labor markets,” the diamond miner said.
Related stories will be right here …
Production rose 4 percent to 9.6 million carats during the period, following a decrease in Q2 of 4 percent.
The rise in the latest quarter was attributed to the treatment of higher-grade ore at Orapa in Botswana and in South Africa, as well as “continued strong performance” in Namibia, said De Beers.
In Botswana, production was up 4 percent to 6.6 million carats in the quarter, driven mostly by higher-grade ore from Orapa, which was partly offset by processing lower-grade ore at Jwaneng.
Namibia’s production was also up, rising 33 percent to 0.5 million carats, boosted by a strong performance from the Benguela Gem vessel, the company’s new diamond recovery vessel that started operations in March.
South Africa’s production was up 5 percent to 1.7 million carats thanks to the treatment of higher-grade ore and plant upgrades, according to De Beers. Production in Canada, meanwhile, was down 7 percent to 0.7 million carats due to the treatment of lower-grade ore and “the impact of tight labor markets,” the diamond miner said.
De Beers also touched on demand for rough diamonds in its reporting, noting that it was steady in the third quarter.
The company reported rough diamond sales of 9.1 million from three sights held during the quarter, compared with 7.8 million carats from two sights in the year-earlier period and 9.4 million carats from three sights in this year’s second quarter.
The miner also noted that while consumer demand for natural diamonds continues to be “robust,” current economic conditions, reduced consumer spending, and continued COVID-19 lockdowns in China could potentially impact demand for diamond jewelry.
De Beers said production guidance for the year remains at 32-34 million carats, adding that it anticipates sales in the fourth quarter being affected by normal temporary closures of the cutting and polishing factories in India for holidays.
More on Sourcing
The Latest
Events & AwardsDec 20, 2024
Two Participants Complete Inaugural Ella Klein InternshipJamie Dunton and Gabriella Botelho are the first graduates of the program, created by the WJA Foundation and Julius Klein Diamonds.
CollectionsDec 20, 2024
Piece of the Week: Retrouvaí’s Ring for CharityIn the spirit of giving, Retrouvaí will donate $4,000 from the sale of this ring to the Los Angeles Regional Food Bank.
IndependentsDec 19, 2024
Michigan’s DeVries Jewelers Unveils New Location in Time for the HolidaysCo-owner Dan DeVries shared what it’s like moving into a space triple the size of its old store and how it feels to be a “real jeweler” now.
Brought to you by
De Beers Group Launches Holiday Campaign for Natural Diamonds‘Forever Present’ campaign revives the iconic A Diamond is Forever tagline and celebrates the diamond dream.
CollectionsDec 19, 2024
State Property Transforms Spain’s Generalife Gardens into JewelryAlong with the latest “Gardens” collection, the brand has released limited-edition designs offering more indulgent pieces.
Weekly QuizDec 19, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeDec 19, 2024
Alleged Jewelry Thieves Attempt Rowboat EscapeThe man and woman are accused of stealing jewelry from a shipping container then trying to flee by paddling a small boat out into a bay.
AuctionsDec 18, 2024
Alexandrite Ring Sells for Record-Setting $1.9M at Sotheby’sThe nearly 17-carat stone made history for the color-change gem that, according to the auction house, is experiencing a “notable surge” in the market.
Brought to you by
Advocacy and Excellence: How Jewelers of America Is Committed to Elevating Our Industry For over a century, Jewelers of America has been the voice of the industry and valuable resource to jewelers across the country.
WatchesDec 18, 2024
Historic Titanic Pocket Watch Winds Its Way Back to Tiffany & Co. More than a century after survivors gifted a Tiffany timepiece to the captain of the ship that rescued them, the jeweler has reclaimed it.
TechnologyDec 18, 2024
Picchiotti Utilizes AI in ‘Spotlight’ Video CampaignThe videos highlight how pieces from the “Xpandable” and “Reversible Xpandable” collections put the wearer in the spotlight.
IndependentsDec 18, 2024
Industry Veteran Steve Feldman Set to RetireFeldman reflected on 45 years in the jewelry industry and clarified that it’s not a total retirement.
Events & AwardsDec 17, 2024
Chanel to Receive Gem Award for High Jewelry ExcellenceThe luxury brand is being honored for excellence in high jewelry design in its “Haute Joaillerie Sport” collection.
SourcingDec 17, 2024
Frank Circelli, Founder of Gem Shopping Network, Dies at 75Circelli was a pioneer in the world of TV shopping who is remembered for his passion for gemstones and his big personality.
AuctionsDec 17, 2024
Blue Diamond Fetches $8.8M at Christie’sThe nearly 6-carat stone headlined the recent jewelry auction, which also featured Mica Ertegun’s jewelry.
CrimeDec 17, 2024
‘Black Bin Crew’ Robbers Get 14-16 Years in Prison The three men, who got their nickname because they’d toss the jewelry they stole into black plastic bins, were arrested back in August.
TrendsDec 16, 2024
Marion Fasel’s New Book Delves Into the History of Engagement Rings“The History of Diamond Engagement Rings: A True Romance” is a 128-page small-format book containing more than 165 images.
WatchesDec 16, 2024
Take a Look Inside the New Rolex Boutique on Rodeo DriveGearys opened a 6,200-square-foot Rolex store with a design that pays homage to the brand’s connection to the ocean.
GradingDec 16, 2024
GCAL By Sarine Expands 8X to 2 More Fancy Shapes The diamond cut grade is now available for marquise- and pear-shaped diamonds.
SourcingDec 16, 2024
Diamonds Do Good Announces 2025 Award RecipientsDDG said the honorees’ business practices embody a commitment to positive social impact, industry innovation, and community empowerment.
TrendsDec 13, 2024
Selena Gomez Said ‘Forever Begins Now’ to Marquise Diamond Engagement RingEstimates on the size and value of the solitaire diamond, which is mounted on a diamond pavé-set yellow gold band, vary.
TrendsDec 13, 2024
Piece of the Week: Martin Katz’s Tanzanite Drops These half-moon tanzanite earrings totaling 25 carats are part of a special trunk show taking place this weekend in Dallas.
Recorded WebinarsDec 13, 2024
Watch: The Highs and Lows of 2024The National Jeweler editors recap the top news, the best jewels, and their favorite stories of the year.
AuctionsDec 12, 2024
Tom Brady’s Watches Top $4M at Sotheby’s AuctionThe highest-grossing lot of the sale was the retired QB’s Rolex Paul Newman Daytona “John Player Special.”
SourcingDec 12, 2024
Grizzly Emerald Auction Garners $22.4MRecent expansion initiatives at the Zambian emerald mine have shown strong production numbers, said Grizzly founder Abdoulaye Ndiaye.
MajorsDec 12, 2024
Mark Henry Appoints New Director of SalesCarrie Forman joins the brand to guide it into the next phase of growth with major and independent retailers in the U.S. and abroad.
SourcingDec 12, 2024
De Beers Announces 2024 ‘Shining Light’ Award WinnersThe competition awarded 12 designers, each from a country where De Beers recovers diamonds, with business support and tuition assistance.
CollectionsDec 12, 2024
The Jared Atelier x Vera Wang Collection Emphasizes EleganceThe high jewelry collection features 14 one-of-a-kind pieces, with serpent and ribbon motifs winding their way through the collection.
