SourcingJul 31, 2025
De Beers Records $189M First-Half Loss SourcingFeb 05, 2026
De Beers Lowers Production Guidance for 2026, Anglo Mulls Another Writedown
It would be the third impairment charge in three years on De Beers Group, which continues to grapple with a “challenging” diamond market.
Diamond production was down significantly for De Beers Group in the fourth quarter, led by a 56 percent decline in Botswana, its top producer by far. The country’s Jwaneng mine was closed for maintenance for the entire quarter in response to market conditions.
London—De Beers Group reported Thursday that production dropped 35 percent in the fourth quarter as it conducted maintenance at key mines while demand for rough diamonds remains slow.
The diamond miner and marketer recovered 3.8 million carats of diamonds in the fourth quarter ending Dec. 31, down from 5.8 million in the prior year period.
Production in Botswana was down 56 percent, with two of the country’s three active diamond mines undergoing plant maintenance during the quarter.
Jwaneng, the world’s richest diamond mine, was offline the entire quarter, while Orapa was shut down during the month of October.
De Beers said that its mines in Botswana “will continue to prioritize cost management by maintaining a balance between optimal plant throughput and maintenance downtime.”
In South Africa, where De Beers operates one diamond mine (Venetia), production slipped 10 percent due to planned plant maintenance.
Production declined 21 percent in Namibia while scheduled maintenance was conducted on two diamond-mining vessels and the diamond recovery vessel, the Benguela Gem, was in port for an extended period to install a new subsea crawler.
Earlier in 2025, De Beers decommissioned two vessels in response to market conditions.
Canada, where De Beers operates one mine (Gahcho Kué), was the only bright spot, with production more than doubling to 949,000 carats as workers accessed new ore from the latest cut at the mine.
De Beers described the rough diamond market as “challenging,” and is cutting its production forecast for the full year.
The company now expects to produce 21-26 million carats of diamonds in 2026, down from its previous projection of 26-29 million carats.
Related stories will be right here …
The diamond miner and marketer recovered 3.8 million carats of diamonds in the fourth quarter ending Dec. 31, down from 5.8 million in the prior year period.
Production in Botswana was down 56 percent, with two of the country’s three active diamond mines undergoing plant maintenance during the quarter.
Jwaneng, the world’s richest diamond mine, was offline the entire quarter, while Orapa was shut down during the month of October.
De Beers said that its mines in Botswana “will continue to prioritize cost management by maintaining a balance between optimal plant throughput and maintenance downtime.”
In South Africa, where De Beers operates one diamond mine (Venetia), production slipped 10 percent due to planned plant maintenance.
Production declined 21 percent in Namibia while scheduled maintenance was conducted on two diamond-mining vessels and the diamond recovery vessel, the Benguela Gem, was in port for an extended period to install a new subsea crawler.
Earlier in 2025, De Beers decommissioned two vessels in response to market conditions.
Canada, where De Beers operates one mine (Gahcho Kué), was the only bright spot, with production more than doubling to 949,000 carats as workers accessed new ore from the latest cut at the mine.
De Beers described the rough diamond market as “challenging,” and is cutting its production forecast for the full year.
The company now expects to produce 21-26 million carats of diamonds in 2026, down from its previous projection of 26-29 million carats.
De Beers’ latest production figures were released as part of parent company Anglo American’s full fourth-quarter production report.
Anglo said Thursday that De Beers is expected to lose money again in 2025, and thereby it is considering another writedown on the company’s value when it reports its full-year financial results, scheduled to come out Feb. 20.
It would be the third impairment charge on the business in three years. Anglo wrote down the value of De Beers by $1.6 billion in 2024 and followed with a $2.9 billion impairment charge in February 2025.
It also said it is progressing with the sale of the diamond mining and marketing company. Anglo confirmed in May 2024 that it was looking to offload De Beers as part of a company-wide restructuring.
In an interview at JCK Las Vegas in May 2025, De Beers Group CEO Al Cook told National Jeweler he expects the separation will happen in the first half of 2026.
More on Sourcing
The Latest
Supplier BulletinAug 07, 2026
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsSponsored by Stratus Estate Buyers
MajorsAug 07, 2026
Retail Veteran Pam Cloud Appointed President of Blue NileCloud, who will officially join Blue Nile on Monday, spent 26 years at Tiffany & Co. and founded jewelry brand Roseate.
MajorsAug 07, 2026
Pandora Appoints Paulo Garcia as New CFO Garcia will take over from the company’s current CFO, Anders Boyer, who is retiring at the end of November.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
MajorsAug 07, 2026
Etsy to Lay Off 12% of WorkforceEtsy CEO Kruti Patel Goyal explained why the company is letting go more than 200 employees as its performance improves.
Weekly QuizAug 07, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsAug 07, 2026
Look Ahead with Syna’s Binoculars PendantThe “Star Gazer” pendant, our Piece of the Week, is Syna’s tribute to curiosity and the discovery of something new.
CrimeAug 06, 2026
Lalique Museum to Remain Closed Following $5M HeistMuseum officials are looking to the public to help cover the “exceptional” costs involved in recovering from the July 5 smash-and-grab.
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.
MajorsAug 06, 2026
Claire’s Revamps Piercing Services for Second Time in Three Years The overhaul includes enhanced employee safety training and trendy earring styles, including lab-grown diamond studs.
FinancialsAug 06, 2026
Brilliant Earth’s Q2 Sales Up 6%, Driven by High-Income ShoppersThe retailer said it had its biggest Mother’s Day ever, with strong demand for higher-priced jewelry.
TrendsAug 06, 2026
New Book on Handcrafted American Objects Highlights Jewelry“Handwork: Handcrafted Objects that Made America” features historic and contemporary works, including a Diné squash blossom necklace.
MajorsAug 06, 2026
AJA East Coast Names Ani Khachian as First Female President-ElectThe Armenian Jewelers Association’s East Coast chapter has also elected its 2026–2027 board of directors.
MajorsAug 05, 2026
Private Equity Firm Wants to Buy 100+ JCPenney StoresOnyx Partners has submitted a second offer to buy the department stores after its first offer fell through last year.
IndependentsAug 05, 2026
Atlanta Jeweler Introduces $10K MartiniSolomon Brothers Jewelers has partnered with local cocktail bar Roaring Social on a new martini garnished with a tennis necklace.
IndependentsAug 05, 2026
Another Member of the Siegel Family Joins Hamilton Jewelers Benjamin Siegel, son of President and CEO Hank Siegel, started working for the family business this week.
MajorsAug 05, 2026
Bulgari Opens Store in San DiegoThe new space features a modern design that blends Bulgari’s Roman heritage with San Diego’s coastal spirit.
CrimeAug 04, 2026
Crew of Thieves Break Into Indiana Jeweler’s HomeFour men were charged in connection with the break-in and accused of stealing $365,000 in cash, jewelry, and designer goods.
MajorsAug 04, 2026
Pandora Hires Former Signet Board Member to Lead North American MarketAndré Branch has more than 25 years of experience with various brands, most recently serving as CEO of Ariana Grande’s cosmetics company.
MajorsAug 04, 2026
Sasha Primak Acquires GemlokNew York-based atelier Gemlok is best known for creating the innovative “bridge” setting that became popular in the bridal market.
CollectionsAug 04, 2026
Musician Carlos Santana Launches Jewelry BrandSantana Now's debut collection, “Unidad,” features symbolic motifs as well as pieces of wood from the Woodstock stage.
CrimeAug 03, 2026
Florida Man Gets 15 Years in Trio of Jewelry Store RobberiesThe 50-year-old man pleaded guilty earlier this year to robbing two jewelry stores and a pawn shop of more than $700,000 in merchandise.
WatchesAug 03, 2026
Citizen's New Spider-Man Watch Is a Collector’s DreamThe watch’s dial features an original design by Marvel comics illustrator Adam Kubert.
Lab-GrownAug 03, 2026
Chatham Releases First Men’s CollectionThe new collection of lab-grown diamond and colored gemstone jewelry provides a “fresh perspective” on the category, Chatham said.
TrendsAug 03, 2026
Amanda’s Style File: Spinel vs. Peridot While some August babies are team peridot, the month's time-honored birthstone, others are team spinel, the newer alternative.
TrendsJul 31, 2026
These Pieces of the Week Are Sweet Edina Kiss’ “Popsicle” pendant and Karina Choudhrie’s “Ice Cream” charm satisfy that summer craving for a sweet piece of jewelry.
MajorsJul 31, 2026
Macy’s Iconic Red Shopping Bag Sign Torn DownThe massive billboard has been in the same spot on the department store’s Herald Square flagship store for decades.
Policies & IssuesJul 30, 2026
JA Heads Back to Washington as New Wave of Tariffs Takes Effect David Bonaparte, along with Tim Haake and Ronnie VanderLinden, continue to lobby for tariff exemptions for diamonds, gemstones, and pearls.
