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.”
Editors' Picks
Sponsored by
More on Sourcing
The Latest
Policies & IssuesApr 28, 2026
Tariff Refunds: How to File, What to Expect Importers can submit claims now to receive money back for the IEEPA tariffs they’ve paid, with refunds expected to take up to 90 days.
IndependentsApr 28, 2026
This North Carolina Jeweler Is Passing the TorchThe owners of Gregory Jewelers in Morganton, North Carolina, are heading into retirement.
AuctionsApr 27, 2026
12 Years Later, the ‘Ocean Dream’ Diamond Resurfaces at Christie’sThe largest known fancy vivid blue-green diamond could fetch more than $12 million at its second auction appearance.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
ColumnistsApr 27, 2026
Stop Treating Mother’s Day Like an AfterthoughtEmmanuel Raheb says jewelers need to start marketing early and make it easy for customers to pick a gift for mom.
Weekly QuizApr 23, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsApr 27, 2026
Longnecker Jewelry Celebrates 30 YearsIn honor of the milestone, the Nebraska jeweler has debuted Leslie & Co., its new in-house jewelry brand.
MajorsApr 27, 2026
JBT Re-Elects Jeff Corey as Board ChairThe trade organization, which held its annual elections earlier this year, also added five new board members.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
SurveysApr 24, 2026
Mother’s Day 2026 Jewelry Spending to Top $7B, NRF SaysNRF’s annual survey found that 45 percent of consumers plan to purchase jewelry for a loved one this Mother’s Day.
TechnologyApr 24, 2026
TwentyFour’s Digital-Age Locket Is a Virtual VaultThe “Vault” charm, our Piece of the Week, expands on the memories that can be stored in a locket by connecting to your phone.
Events & AwardsApr 24, 2026
Hamptons Jewelry Show to Return in JulyThe open-to-the-public luxury jewelry and timepiece show, in its second year, is slated for July 23-26.
IndependentsApr 23, 2026
Meet the Real Moms of Day’s JewelersThe jeweler’s Mother’s Day campaign highlights the women who work there—mothers, grandmothers, women who want to be mothers, and dog moms.
Supplier BulletinApr 23, 2026
JM® Shipping Solution: Smarter Shipping for High-Value GoodsSponsored by Jewelers Mutual
Lab-GrownApr 23, 2026
Charles & Colvard May Sell Assets for $1.5MThe proposed agreement follows the moissanite maker’s Chapter 11 bankruptcy protection filing last month.
AuctionsApr 23, 2026
John Jacob Astor IV’s Titanic Pocket Watch Fetches $1MThe Patek Philippe for Tiffany & Co. timepiece Astor brought aboard the ill-fated ship sold for double its estimate at a Freeman’s auction.
CollectionsApr 23, 2026
Adam Neeley’s High Jewelry Collection Steps Into Salvador Dalí’s GardenThe “Dalí’s Garden” collection was inspired by a surreal dream Neeley had after cooking a recipe from Salvador Dalí’s 1973 cookbook.
IndependentsApr 23, 2026
Windsor Jewelers Names New Buying DirectorNatalie Feanny has been appointed to the role.
CrimeApr 22, 2026
New Mexico Couple Pleads Guilty to Selling Fake Native American JewelryThe pair falsely claimed their jewelry was made by Navajo artists, but it was imported from Vietnam.
AuctionsApr 22, 2026
Roberta Flack’s Jewelry Is Going Up for AuctionJulien’s Auctions is selling the musician’s fine and fashion jewelry alongside her clothing, gold records, and other memorabilia.
CollectionsApr 22, 2026
British Museum Curator Pens Book on ‘The Tudor Heart’Rachel King’s book dives into the history of the pendant believed to have belonged to Henry VIII and his first wife, Katherine of Aragon.
Events & AwardsApr 22, 2026
Here’s What Sy Kessler Has on Tap for Las Vegas The company will have deals on precious metals testers as well as the latest in lab-grown diamond detection technology and security.
WatchesApr 21, 2026
Coco Chanel Enters the Game with New Watch CollectionGabrielle “Coco” Chanel is a character in the “Coco Game” collection of watches and the queen in its first haute horlogerie chessboard.
IndependentsApr 21, 2026
Meet Jewelers of America’s 2026 ‘20 Under 40’ ClassThe annual list honors rising professionals on the retail and supply sides of the jewelry industry.
CrimeApr 21, 2026
Customs Nabs 1,500 Pieces of Counterfeit Jewelry Bound for NYCSeized in Kentucky, the packages include fake Cartier, Tiffany & Co., Chanel, and Fendi jewelry.
CrimeApr 20, 2026
Queens Man Convicted in Bludgeoning Death of Pawn Shop OwnerRodolfo Lopez-Portillo faces 25 years to life in prison after being found guilty in the March 2022 beating death of Arasb Shoughi.
TrendsApr 20, 2026
Beth Bernstein, Sonia Esther Soltani Pen New Jewelry Book“Jewelry Creators: Dynamic Duos and Generational Gems” highlights the relationships among 22 influential designers, brands, and gem dealers.
Events & AwardsApr 20, 2026
Atlanta Jewelry Show’s Spring Event Is Hitting the RoadThe AJS Spring 2027 show will be held in Savannah, Georgia, with future shows taking place in other Southeast cities.
