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.
Editors' Picks
Sponsored by
More on Sourcing
The Latest
ColumnistsMay 18, 2026
Edahn Golan: What a K-Shaped Economy Means for Fine JewelryIn a column for the 2026 State of the Majors issue, Golan spells out how the growing economic divide in the U.S. is reshaping the market.
CollectionsMay 18, 2026
Foundrae’s New Collection Taps Into JoyThe “Limitless Expansion of Joy and Hope” collection evokes summer through colored gemstones and motifs of butterflies and florals.
CollectionsMay 18, 2026
Hancocks London Acquires Historic ‘Inchiquin’ EmeraldThe jewel, circa 1890, is from the late Victorian era and was owned by descendants of the last high king of Ireland.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
Events & AwardsMay 18, 2026
Here Are the 2026 JCK Industry Fund Grant Recipients This is what the nine recipients plan to do with the funds.
Weekly QuizMay 14, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsMay 15, 2026
American Collector Ponies Up Almost $17K for John Wayne’s RingThe Western star’s 14-karat gold signet ring sold for six times its low estimate following a bidding war at U.K. auction house Elmwood’s.
Events & AwardsMay 15, 2026
JA, MJSA To Sponsor Roundtable at TJSThe discussion, "Rebuilding the Jewelry Workforce," will take place on Saturday, May 16, in Troy, Michigan.
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.
AuctionsMay 14, 2026
White Diamonds Lead Sotheby’s Auction, Blue Diamond Does Not SellA matching pair of 18.38-carat, D-color diamonds from Botswana’s Jwaneng mine sold for $3.3 million, the top lot of the jewelry auction.
Supplier BulletinMay 14, 2026
A Diamond Is Forever Continues Desert Diamonds – Bridal ReinvigoratedSponsored by A Diamond Is Forever
AuctionsMay 14, 2026
‘Ocean Dream’ Makes Waves at Christie’s, Fetching $17MIt was the second auction appearance for the fancy vivid blue-green diamond, which sold for $7.8 million at Christie’s Geneva 12 years ago.
CrimeMay 14, 2026
Second Man Arrested in Florida Pawn Shop Shooting Members of the U.S. Marshals Task Force took a 22-year-old man into custody. He was charged with tampering with evidence.
CrimeMay 13, 2026
JSA’s 2025 Crime Report Shows ‘Concerning’ Rise in ViolenceWhile the overall number of crimes was down, there were more incidences in which robbers pulled out guns, mace, or rammed cars into stores.
IndependentsMay 13, 2026
New Orleans Jeweler Closing Canal Place StoreJack Sutton Fine Jewelry is closing its store inside the downtown shopping center after 40 years in business.
SourcingMay 13, 2026
Smithsonian Acquires ‘Winston Red’ Diamond PaintingReena Ahluwalia’s painting of the rare red diamond is the first contemporary painting to join the National Gem Collection.
TrendsMay 13, 2026
State of Design: Only the Innovative Will SurviveThe price of gold has risen, affecting the number of pieces designers make, the materials they use, and how they position themselves.
ColumnistsMay 12, 2026
It’s Official: We’re Getting ‘Brain Rot’ From Watching Short-Form Videos Peter Smith gives tips on leading meetings, developing marketing, and making trade show appointments in the age of short attention spans.
CollectionsMay 12, 2026
Jessica McCormack Debuts Antique Coin-Inspired Medallions for SummerThe 11-piece “Medallions” capsule collection features five motifs: a crying eye, a heart on fire, a spiral, a flower, and a swallow.
IndependentsMay 12, 2026
State of Retail: 6 Things Retailers Should Know About Consumers TodayFrom Gen Z’s view of luxury to “doom spending,” these are the six consumer trends to note this year.
Events & AwardsMay 12, 2026
The Tiffany & Co. x CFDA Jewelry Designer Award Is BackThe partners have announced the second cycle of the program, which has expanded to include a $25,000 student scholarship.
IndependentsMay 11, 2026
Kansas Jeweler Closing After 70 YearsThe owners of Staats Jewelers are heading into retirement.
TrendsMay 11, 2026
Former Macy’s CEO Joins Signet Jewelers BoardJeffrey Gennette, who retired in 2024 after 41 years with Macy’s, is the newest member of the jewelry retailer’s board of directors.
TrendsMay 11, 2026
Amanda’s Style File: Lucky May May babies are lucky to have emeralds, a gemstone admired for centuries, as their birthstone, writes Amanda Gizzi.
TechnologyMay 11, 2026
Clientbook’s New Tool Helps Jewelers Plan In-Store EventsThe new module allows retailers to plan, promote, and measure the success of events from a single dashboard.
Lab-GrownMay 08, 2026
NDC Publicly Criticizes Pandora Over ‘Misleading’ Natural Diamond ClaimsNDC said in an open letter that Pandora’s statements about the carbon footprint of lab grown versus natural diamonds are inaccurate.
SourcingMay 08, 2026
Ronnie VanderLinden Takes Over as WDC President The diamantaire and industry leader succeeds Feriel Zerouki and said he will focus on being a “champion” for natural diamonds.
TrendsMay 08, 2026
Rihanna Chooses ‘Desert Diamonds’ for 2026 Met GalaShe wore our Piece of the Week, Glenn Spiro’s “Old Moghul Golconda” earrings, featuring fancy brown-yellow diamonds totaling 51.90 carats.
