SourcingJul 17, 2025
Rio Tinto Names New CEO, Production Rises at DiavikSourcingJul 24, 2025
De Beers Sees Diamond Production Sink 36% in Q2
While struggles continue at the mining and trading end of the pipeline, consumer demand for diamond jewelry is holding steady.
A stock image of the mv SS Nujoma, a marine mining vessel De Beers launched in 2017 to explore and sample diamonds off the coast of Namibia. The company announced today that it is retiring one marine mining vessel, the Coral Sea, and is looking to sell or decommission another, the Grand Banks. (© De Beers Group/Photo credit: Ben Perry @ Armoury Films)
London—De Beers Group continues to hold back on diamond production as demand for rough diamonds remained lower.
The company’s second-quarter production reported was released Thursday, part of parent company Anglo American’s broader report on all of its operations.
Anglo confirmed last May that it is looking to sell De Beers. The company said Thursday that the formal process to offload De Beers is “advancing,” despite market conditions.
In the second quarter, De Beers’ production dropped 36 percent year-over-year to 4.1 million carats, down 36 percent from 6.4 million in the same period last year.
Canada, where De Beers operates one diamond mine (Gaucho Kué), reported the sharpest drop in production at 46 percent, followed by Botswana at 44 percent, and Namibia at 5 percent.
De Beers is treating lower-grade ore in Canada and is doing extended maintenance on the Orapa mine in Botswana. It also has mothballed the Letlhakane tailings plant there in response to the drop in demand for rough diamonds.
In Namibia, the company announced that following a “fleet optimization study,” it has opted to retire its Coral Sea mining vessel and has taken the Grand Banks out of service while it decides if it wants to sell or decommission the ship.
South Africa, where De Beers recently went underground on the Venetia mine, was the only country where production increased, rising 17 percent year-over-year.
Related stories will be right here …
The company’s second-quarter production reported was released Thursday, part of parent company Anglo American’s broader report on all of its operations.
Anglo confirmed last May that it is looking to sell De Beers. The company said Thursday that the formal process to offload De Beers is “advancing,” despite market conditions.
In the second quarter, De Beers’ production dropped 36 percent year-over-year to 4.1 million carats, down 36 percent from 6.4 million in the same period last year.
Canada, where De Beers operates one diamond mine (Gaucho Kué), reported the sharpest drop in production at 46 percent, followed by Botswana at 44 percent, and Namibia at 5 percent.
De Beers is treating lower-grade ore in Canada and is doing extended maintenance on the Orapa mine in Botswana. It also has mothballed the Letlhakane tailings plant there in response to the drop in demand for rough diamonds.
In Namibia, the company announced that following a “fleet optimization study,” it has opted to retire its Coral Sea mining vessel and has taken the Grand Banks out of service while it decides if it wants to sell or decommission the ship.
South Africa, where De Beers recently went underground on the Venetia mine, was the only country where production increased, rising 17 percent year-over-year.
De Beers described rough diamond trading conditions as “challenged” in the first half of the year.
It cut prices, and took lower margins, on certain goods during its three sights in the second quarter, which helped boost revenue, though it noted it expects to report a loss for the first half of the year.
The miner and marketer also saw stronger demand for higher-value diamonds in Q2.
De Beers said it sold 7.6 million carats of rough diamonds, generating $1.19 billion in revenue, compared with 7.8 million carats/$1.04 billion in revenue during the second quarter 2024.
That is a 3 percent decrease in terms of carats sold but a 14 percent increase in revenue.
The consolidated average selling price for rough diamonds has fallen 5 percent year-over-year so far in 2025, dropping to $155 per carat.
The average rough price index is down 14 percent.
(The average rough price index comprises the weighted average of percentage change in selling prices for all De Beers’ sights for the year; as such, it is considered a better like-for-like indicator of the direction of rough diamond prices.)
De Beers said polished trading started to perk up at the end of the Q1, which helped to stabilize polished prices, but the uncertainty surrounding the pending tariffs announced in April slowed the momentum.
While the top end of the diamond pipeline continues to struggle, De Beers noted that at the retail end, consumer demand for diamond jewelry has remained “broadly stable” through the first half of 2025.
De Beers’ production outlook for 2025 remains unchanged at 20-23 million carats.
More on Sourcing
The Latest
AuctionsDec 09, 2025
‘Desert Rose’ Diamond Sells for $8.8M in Abu DhabiThe sale of the 31.68-carat, sunset-hued stone was part of Sotheby’s first series of events and auctions in Abu Dhabi.
ColumnistsDec 09, 2025
Holiday Sales Happen in December, Most Decisions Don’tMost customers who walk into your store this month have made up their minds. Your job is to validate their choice, Emmanuel Raheb writes.
TrendsDec 09, 2025
‘Once Upon a Time,’ Guzema Debuted Its Holiday CollectionThe collection features characters and motifs from Ukrainian folklore, including an enchanted mirror and a magic egg.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
TechnologyDec 09, 2025
Gemvision Releases Updated MatrixGoldMatrixGold 3.11, the newest version of the jewelry design program, offers more flexibility, precision, and creative control.
Weekly QuizDec 04, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsDec 09, 2025
MJSA Showcase Pavilion Returning to JA New York The pavilion will be part of the 2026 JA New York Spring show, scheduled for March 15 to 17.
MajorsDec 08, 2025
Juell Kadet, a ‘Lifelong Pillar’ of Rogers & Hollands, Dies at 96Kadet, a 1994 National Jeweler Retailer Hall of Fame inductee, helped grow the family-owned retailer in the Chicago area and beyond.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
TechnologyDec 08, 2025
You’ve Heard of Smart Watches and Rings; Meet Smart EarringsBilled as the world’s smallest wearable, Lumia Health’s new smart earrings have a health tracker subtly embedded in the back.
TrendsDec 08, 2025
Amanda’s Style File: Celebrating December’s BirthstonesDon’t let those with December birthdays feel blue. Help them celebrate their month with blue zircon, turquoise, and tanzanite.
CollectionsDec 05, 2025
Piece of the Week: Robinson Pelham’s ‘Tsar Star’ EarringsThe new pink sapphire version of the piece dances with its wearer in the brand’s “Icons After Dark” holiday campaign.
TrendsDec 05, 2025
Pantone’s Color of the Year for 2026 Is … WhiteA choice that’s generated a lot of commentary, Pantone says “Cloud Dancer” marks a fresh start and encourages relaxation and creativity.
MajorsDec 05, 2025
Stuller Releases ‘Wrapped in Wonder’ CampaignThe manufacturer’s holiday campaign features a gift guide filled with trending designs and jewelry that can be personalized.
CrimeDec 04, 2025
Man Arrested After Allegedly Swallowing Fabergé Egg PendantThe man was charged with theft, accused of ingesting the necklace while in a jewelry store in Auckland, New Zealand.
IndependentsDec 04, 2025
Step Inside JR Dunn Jewelers’ Giant New Store The Florida independent expanded its store from 8,000 to 14,000 square feet, fulfilling the vision of its late co-founder, Jim Dunn.
Supplier BulletinDec 04, 2025
Introducing Shop Natural Day: A New Movement Celebrating Natural DiamondsSponsored by De Beers Group
WatchesDec 04, 2025
Casio Shrinks its G-Shock WatchThe classic 5600 series G-Shock has been scaled down to about a tenth of its size, becoming a fully functioning watch ring.
Events & AwardsDec 04, 2025
AGA Announces 2026 Tucson Speaker LineupThe association’s annual conference and gala will take place Feb. 4, 2026, during the Tucson gem shows.
Events & AwardsDec 04, 2025
CBG Announces Speaker Lineup for 2026 Miami Event The January show will include a workshop for jewelry retailers on implementing AI to strengthen their businesses.
TrendsDec 03, 2025
Miley Cyrus Debuts Edgy Engagement RingFellow musician Maxx Morando proposed to the star with a chunky, cushion-cut diamond ring designed by Jacquie Aiche.
Policies & IssuesDec 03, 2025
Costco Joins Growing Wave of Retailers Suing for Tariff Refunds The retailer, which sells billions in fine jewelry and watches, is suing the Trump administration and U.S. Customs and Border Patrol.
SurveysDec 03, 2025
A Record 202.9M Shoppers Turned Out Thanksgiving WeekendBlack Friday is still the most popular shopping day over the five-day holiday weekend, as per the National Retail Federation’s survey.
AuctionsDec 03, 2025
Fabergé’s 'The Winter Egg' Achieves Record $30MThe historic egg, crafted for Russia's ruling family prior to the revolution, was the star of Christie’s recent auction of works by Fabergé.
FinancialsDec 02, 2025
Signet Jewelers’ Q3 Sales Up Amid Continued Focus on Lower Price PointsThe retailer offered more fashion jewelry priced under $1,000, including lab-grown diamond and men’s jewelry.
CollectionsDec 02, 2025
Briony Raymond Introduces First FragranceThe eau de parfum is held in a fluted glass bottle that mirrors the decor of the brand’s atelier, and its cap is a nod to its “Sloan” ring.
MajorsDec 02, 2025
Lee Krombholz Takes Over as Chair of MJSA Education FoundationIn addition, a slate of new officers and trustees were appointed to the board.
IndependentsDec 02, 2025
RJO Welcomes Its 1,200th Retail MemberWitt’s Jewelry in Wayne, Nebraska, is the organization’s new milestone member.
