De Beers’ Production Down 8% in 2023
The company recovered 31.9 million carats of diamonds in 2023, compared with 34.6 million in 2022.

According to the company’s fourth-quarter and year-end production report published last week, it recovered a total of 31.9 million carats of diamonds in 2023, compared with 34.6 million in 2022.
The nearly 32 million carats De Beers mined was in line with its guidance for the year, 30 million-33 million carats.
The biggest drag on De Beers’ production continues to be Venetia, where production was down 64 percent to 2 million carats.
Open-pit operations at the mine ceased in December 2022, and De Beers is now just processing lower-grade surface stockpiles while construction on the new underground portion of the mine continues.
The company said in July that it had recovered the first diamonds from the mine’s $2.2 billion underground expansion, and the project was now about 70 percent complete.
The two underground ore bodies at Venetia are expected to produce a combined 4.5 million-5.5 million carats of diamonds a year, making it a significant source of diamonds.
In Botswana—the country that produces 77 percent of De Beers’ diamonds—production ticked up 2 percent in 2023 to 24.7 million carats.
Production was up 9 percent year-over-year in Namibia to 2.3 million carats, and essentially was flat at 2.8 million carats in Canada, where De Beers operates the Gahcho Kué mine in a joint venture with Mountain Province Diamonds.
In the fourth quarter, production was down 3 percent to 7.9 million carats, with higher production from De Beers’ top producing country, Botswana, not enough to offset the steep decline in South Africa.
In Botswana, production increased 6 percent year-over-year during the quarter to 6.1 million carats, primarily due to increased production at Orapa.
Orapa produced 2.9 million carats during the quarter, up from 2.7 million carats in the fourth-quarter 2022, a 10 percent increase.
For 2024, De Beers’ production guidance remains unchanged at 29 million-32 million carats, though the company noted it could opt to reduce production if that’s what the market dictates.
The Latest

It is part of Sotheby’s “Royal & Noble Jewels” sale along with an ornate hair ornament and an old mine-cut light pink diamond ring.

Hill Management Group will oversee, market, and produce next year’s spring show.

One of the individuals was apprehended at the airport as he was trying to flee the country.

From sunlit whites to smoky whiskeys, introduce your clients to extraordinary diamonds in colors as unique as their love.

The retailer, which has faced struggling sales in recent quarters, is looking to streamline its operations.


London-based investment firm Pemberton Asset Management acquired the auction house for an undisclosed amount.

The workshop will give attendees the chance to try out and ask questions about three different diamond verification instruments.

As the holiday season quickly approaches, consider stocking one category that sometimes gets overlooked: earrings.

The footage shows two of the jewelry heist suspects descending from the second floor of the museum and then escaping via scooter.

Founder and designer Rosanna Fiedler looked to a vintage Cartier clutch when designing the sunlight-inspired drop earrings.

The luxury conglomerates faced a challenging Q3 amid geopolitical and economic tensions.

The book details the journey of watches as symbols of hard-earned success in hip-hop for artists like 2Pac, Jay-Z, and more.

Alexis Vourvoulis, who most recently worked at Tiffany & Co., brings more than two decades of jewelry experience to her new role.

The superstar’s August engagement put the stamp of approval on an already hot engagement ring trend.

Retailers should offer classic styles with a twist that are a perfect fit for layered looks, experts say.

The nearly 7-carat fancy vivid purplish pink diamond could sell for around $9 million.

Chief Artistic Officer Nathalie Verdeille has reimagined the iconic design in both figurative and abstract creations.

Five dollars buys one vote toward an industry professional you want to see dressed up as a hero, or a villain, this Halloween.

Recently acquired by KIL Promotions, the November edition of the public show in San Mateo, California, will be held Nov. 7-9.

The stone’s two zones, one pink and one colorless, may have formed at two different times, the lab said.

Hollywood glamour meets Milanese sophistication in the design of Pomellato’s new store in Beverly Hills, California.

The New York City store showcases a chandelier with 1,500 carats of lab-grown diamonds designed by an FIT student.

The Museum of Arts and Design's new exhibition features 75 pieces by the designer, best known for her work in the “Black Panther” films.

Making its auction debut, "The Glowing Rose" is expected to fetch $20 million at the November jewelry sale in Geneva.

They were attacked on Oct. 15, as approximately 40 miners without licenses marched on the mine’s gate.

It took the masked thieves less than 10 minutes to steal eight irreplaceable jewels from two display cases in the museum’s Apollo Gallery.

Gemologist Lauren Gayda has previously worked at The Clear Cut, Taylor & Hart, and Effy Jewelry.





















