EditorsApr 15, 2025
Q&A: Bogolo Joy Kenewendo on Making Deals, Marketing DiamondsSourcingApr 25, 2025
De Beers Sales, Production Fall in Q1 Amid Uncertainty
The company said it expects sightholders to remain “cautious” with their purchasing due to all the unknowns around the U.S. tariffs.
De Beers Group reported Thursday that its production was down 11 percent year-over-year in the first quarter of 2025 while rough diamond revenue dropped 44 percent year-over-year. (Photo courtesy of De Beers Group)
London—Sales and production both dropped for De Beers Group in the first quarter of 2025, as the general economic unease did nothing to stimulate an already sluggish diamond market.
De Beers reported Thursday that first-quarter production totaled 6.1 million carats, an 11 percent drop from the 6.9 million carats mined a year ago.
Production was down in three of the four countries where De Beers mines diamonds, dropping 8 percent in Botswana to 4.6 million carats, 19 percent in South Africa to 483,000 carats, and 40 percent in Canada to 389,000 carats.
The only exception was Namibia.
Production in the country was flat at 631,000 carats as planned mining of higher-grade areas and better recoveries on land offset the planned slowdown in mining by Debmarine Namibia, which mines diamonds at sea.
Related stories will be right here …
De Beers reported Thursday that first-quarter production totaled 6.1 million carats, an 11 percent drop from the 6.9 million carats mined a year ago.
Production was down in three of the four countries where De Beers mines diamonds, dropping 8 percent in Botswana to 4.6 million carats, 19 percent in South Africa to 483,000 carats, and 40 percent in Canada to 389,000 carats.
The only exception was Namibia.
Production in the country was flat at 631,000 carats as planned mining of higher-grade areas and better recoveries on land offset the planned slowdown in mining by Debmarine Namibia, which mines diamonds at sea.
Rough diamond sales from two sights in the first quarter totaled 4.7 million carats (4.2 million on a consolidated basis, which excludes rough sales by De Beers’ joint-venture partners), compared with 4.9 million carats (4.6 million carats on a consolidated basis) sold in the first two sights of 2024, a 4 percent year-over-year decline.
Consolidated rough diamond revenue from the first two sights of 2025 totaled $520 million, a 44 percent drop from the first two sights of 2024 ($925 million).
The consolidated average realized price declined by 38 percent to $124 per carat, reflecting the impact of a change in sales mix, stock rebalancing, and a 15 percent decrease in the average rough price index.
De Beers said U.S. consumer demand for diamond jewelry over the holiday season met expectations, but rough diamond demand was “subdued” to start the new year. Manufacturers were not looking to restock on rough because they still had plenty of loose polished diamonds.
“While there were signs of loose polished diamond prices stabilizing towards the end of the quarter, lifting industry confidence, ongoing macroeconomic uncertainty, in particular the impact of U.S. tariffs, will likely result in continued cautious sightholder purchases in the near term,” the company said.
“We continue to manage the business to preserve cash while maintaining underlying value.”
De Beers’ 2025 production guidance of 20 million-23 million carats remains unchanged.
The diamond miner and marketer’s most recent results were posted Thursday as part of parent company Anglo America’s first-quarter production report.
Anglo confirmed last year that it is looking to offload De Beers as part of a wider restructuring that will allow it to focus on mining metals that are used in “green” energy solutions.
On Thursday, Anglo Chief Executive Duncan Wanblad said the company continues to pursue either a demerger or divestment of De Beers, which it is “committed to completing at the right time and when market conditions allow.”
More on Sourcing
The Latest
CollectionsAug 14, 2025
In Midst of ‘Sardine Girl Summer,’ Pippa Small Looks to ‘Flounder Fall’Her new “Ocean” collection was inspired by Myanmar’s traditional articulated fish jewelry, with depictions of flounder, catfish, and more.
MajorsAug 14, 2025
Casio America Names New CEOLongtime Casio executive Yusuke Suzuki is the new president and CEO of Casio’s U.S. subsidiary.
TrendsAug 13, 2025
Cristiano Ronaldo Proposes With Gigantic Oval-Cut DiamondModel Georgina Rodríguez received a rock of an engagement ring, with her diamond estimated to be 35 carats, experts say.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
TrendsAug 13, 2025
Colorado Jeweler, Whiskey Maker Collab on Ring GiveawayThree winners will receive a custom ring from Honest Hands Ring Co. inlaid with a piece of history from Denver-based distillery Stranahan’s.
Weekly QuizAug 08, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SurveysAug 13, 2025
These Are The 25 Hottest Retailers, Says NRFJD Sports and Wawa were among the fastest-growing retail companies in the U.S. last year.
SourcingAug 13, 2025
Columbia Gem House Launches Winza Sapphires, RubiesThe new inventory, all untreated, features vibrant hues and unique bicolor combinations.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
SourcingAug 12, 2025
Gemfields Sells Fabergé for $50MAcquired by a tech investor, the historic brand will continue to focus on jewelry, accessories, and timepieces.
Policies & IssuesAug 12, 2025
Higher Tariff on Chinese Imports Paused for 90 Days, Trump SaysPresident Donald Trump issued an executive order extending the pause on higher tariffs to November as negotiations with China continue.
CollectionsAug 12, 2025
Jacquie Aiche’s New Collection Harnesses the Energy of the ThunderbirdThe “Thunderbird Slab” collection features a thunderbird motif as a symbol of power, protection, and boundless possibility.
ColumnistsAug 12, 2025
Creative Connecting: How to Take a Better HeadshotColumnists Jen Cullen Williams and Duvall O’Steen share tips on how to elevate your professional image.
CrimeAug 11, 2025
Man Convicted of First-Degree Murder in Death of Colorado JewelerPeter Damian Arguello, a jeweler in the Denver suburb of Wheat Ridge, was found dead inside his store in November 2023.
IndependentsAug 11, 2025
Lisa Bridge to Depart Ben Bridge JewelerThe retailer, owned by Berkshire Hathaway, is becoming part of the Berkshire Hathaway Jewelry Group with Helzberg.
Events & AwardsAug 11, 2025
Bethenny Frankel to Give Keynote at CBG’s Experience ShowThe Continental Buying Group’s 2025 Tampa Experience Show is slated for Sept. 8-10.
EditorsAug 11, 2025
The Colors Expected to Be On-Trend in a Couple YearsAssociate Editor Lauren McLemore recently attended a fabrics trade show where a trend forecaster shared her predictions for summer 2027.
FinancialsAug 08, 2025
Brilliant Earth’s Q2 Sales Up 3% as Engagement Ring Sales RiseThe company raised its full-year sales guidance while noting it has not yet assessed the potential impact of the latest tariff news.
Events & AwardsAug 08, 2025
GJEPC’s Jewellers for Hope Celebrates 10 Years of FundraisingThe organization has raised more than $1.3 million for charity since its inception.
TrendsAug 08, 2025
Piece of the Week: Rahaminov Diamonds’ Bezel BangleThe brand’s latest iteration of a bezel-set diamond bangle features clean lines and a timeless design for a new modern silhouette.
WatchesAug 07, 2025
Bulova’s New Collection Honors Tony BennettThe first watch in the series commemorates his participation in the Civil Rights movement, marching from Selma to Montgomery in 1965.
Lab-GrownAug 07, 2025
Chatham Releases Catalog for Loose Lab-Grown GemstonesThe catalog contains a complete listing of all the loose gemstones in stock, as well as information about the properties of each stone.
TechnologyAug 07, 2025
Rembrandt Charms Debuts New Website, Bird CharmsThe company added a retailer dashboard to its site and three new birds to its charm collection, the cardinal, blue jay, and hummingbird.
Policies & IssuesAug 06, 2025
Tariff on India to Rise to 50%, Trump Says An additional 25 percent tariff has been added to the previously announced 25 percent.
MajorsAug 06, 2025
Claire’s Files for Chapter 11 Bankruptcy AgainThe jewelry and accessories retailer plans to close 18 stores as part of the proceedings.
IndependentsAug 06, 2025
Smith & Son Jewelers to Close 107-Year-Old Location Its Springfield, Massachusetts, store is set to close as owner Andrew Smith heads into retirement.
CollectionsAug 06, 2025
Zahn-Z Swims With Whales in ‘Beluga’ CollectionDesigner Hiba Husayni looked to the whale’s melon shaped-head, blowhole, and fluke for her new chunky gold offerings.
TrendsAug 06, 2025
Paola De Luca to Release Trendbook 2027+She will present the 23rd edition of the trend forecasting book at Vicenzaoro on Sept. 7.
