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
IndependentsJul 06, 2026
Bachendorf’s To Open Fifth Store In DallasThe new location is set to open this winter, featuring the retailer’s first rotating jewelry designer residency.
MajorsJul 06, 2026
Graff Names BTS Star Jung Kook as New AmbassadorThe pop artist appears in the latest campaign for the “Laurence Graff Signature” collection.
CollectionsJul 06, 2026
Pandora’s New Baroque Pearl Collection Is a Whimsical ‘Wonder’One-of-a-kind pearls take the shape of ice cream cones, frogs, submarines, and other imaginative charms.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
Supplier BulletinJul 02, 2026
Elevating Retail Showcases with Today's Necklace & Bracelet TrendsSponsored by Rio Grande Jewelry Supply
Weekly QuizJul 01, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsJul 02, 2026
Oscar Heyman’s Flag Brooch Celebrates AmericaThe American jewelry house, founded by Latvian immigrants, has been creating American flag brooches since 1917.
IndependentsJul 02, 2026
D. Geller & Son Partners with KSU Art Students on Store MuralThe artwork celebrates the Atlanta jeweler’s legacy and symbolizes its commitment to supporting local artists and its community.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
Events & AwardsJul 02, 2026
Stratus Estate Buyers Offers Jewelers Turnkey Buying EventsIts team can evaluate jewelry and watches, as well as luxury handbags, artwork, and collectibles.
SurveysJul 01, 2026
Consumer Confidence Ticks Up in JuneFalling oil prices were a factor in the slight month-over-month improvement.
CollectionsJul 01, 2026
Rio Grande Launches First Finished Bridal CollectionThe new offering comprises more than 120 bridal and engagement ring styles with natural and lab-grown diamonds.
WatchesJul 01, 2026
Rolex Unveils Clock at Rockefeller CenterThe clock is part of the celebration for the soon-to-open Rolex headquarters on New York City’s Fifth Avenue.
IndependentsJul 01, 2026
Kristen Cannon of Valobra Master Jewelers Dies at 49The public relations professional is remembered for her benevolent generosity and unwavering commitment to those around her.
WatchesJun 30, 2026
Pokémon Fans Will Want to Catch This New G-Shock WatchThe new watch commemorates Pokémon’s 30th anniversary.
MajorsJun 30, 2026
Saks Global Emerges From Bankruptcy With New NameThe luxury retailer is now called Exemplar Luxury Group.
CollectionsJun 30, 2026
Jade Ruzzo’s New Collection Embodies the Art of Being a LadyThe “Lady” collection is a new take on old beauty standards with gemstone-adorned hair pins and combs, a compact mirror necklace, and more.
SourcingJun 30, 2026
Blue Nile Introduces Montana Sapphire CollectionThe new line is included in the e-tailer’s curation of jewelry celebrating America’s 250th anniversary.
GradingJun 30, 2026
AGS Opens 2026 Recertification ExamAll active members who earned their credential or designation before Dec. 1, 2025, are required to recertify.
CollectionsJun 29, 2026
Briony Raymond’s New Collection Is a ‘Carousel’ of Hard StonesThe new jewelry collection uses a colorful palette of onyx, malachite, tiger’s eye, mother-of-pearl, lapis, turquoise, and coral.
IndependentsJun 29, 2026
Look Inside Lee Michaels’ Revamped Mississippi FlagshipLee Michaels Fine Jewelry is celebrating 30 years in the Ridgeland, Mississippi community.
GradingJun 29, 2026
National Rarities Announces New Gemology ManagerSean Milliner has joined the company.
GradingJun 29, 2026
GIA to Open New London CampusClasses will begin in August at GIA’s new Canary Wharf location.
AuctionsJun 26, 2026
‘Hogback’ Diamond Ring Finds a New Home A ring set with “hogback” diamonds, an early stone cut dating to around the 16th century, sold for more than $20,000 at a U.K. auction.
CollectionsJun 26, 2026
Strength Is Sharpened Into Beauty in Kris Averi’s ‘Prism Thorn’ RingThe rainbow version of the ring, our Piece of the Week, features angel-cut, octahedral lab-grown sapphires designed to be worn as armor.
MajorsJun 26, 2026
Rembrandt Charms Debuts ‘Charms That Give Back’The new initiative donates a portion of the proceeds from select charms to charitable causes.
TrendsJun 26, 2026
Bernard James Celebrates Knicks’ Win with RingThe Brooklyn-based jeweler created a limited-edition version of its “Aura” eternity band, set with gemstones in the team’s colors.
SourcingJun 25, 2026
ICA Names Brandee Dallow as CEODallow will lead the International Colored Gemstone Association, effective July 6.
