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
IndependentsJun 15, 2026
DeBoulle Diamond & Jewelry to Renovate Dallas FlagshipThe revamped, elevated space will feature a two-story Patek Philippe atelier and a rooftop patio for parties.
WatchesJun 15, 2026
G-Shock, Coca-Cola Partner on Bottle-Inspired WatchThe special-edition piece marks the 140th anniversary of the iconic beverage brand.
TrendsJun 15, 2026
Amanda’s Style File: Tiny Charms Are TrendingHere are 13 small charms to inspire your layered looks this summer.
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.
AuctionsJun 12, 2026
16th-Century ‘Hogback’ Diamond Ring Going Up for Auction in LondonFound by a metal detectorist, the ring likely belonged to a wealthy, possibly royal, owner, said Noonans.
Weekly QuizJun 11, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJun 12, 2026
Chouette Designs To Launch Collection Celebrating All Types of LoveOur Pride Month Piece of the Week, the “Margaux” ring, is part of the wife-and-wife team’s new “Lovestoned” collection.
Events & AwardsJun 12, 2026
CBG Announces Plans for Phoenix ShowThe group has named the keynote speaker and announced a new pavilion for its next event, which is slated for September.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
EditorsJun 11, 2026
This Was the Best Animal Jewelry in Las Vegas From lions and hippos to snails and fish, Senior Editor Lenore Fedow wrangles her picks for cutest jewelry critters in Las Vegas.
MajorsJun 11, 2026
Former Cartier Creative Director To Head Chanel’s Jewelry Creation StudioMarie-Laure Cérède will join Chanel as the new director of its jewelry creation studio, starting in October.
Lab-GrownJun 11, 2026
Smiling Rocks’ ‘Wish Jar’ Generates 100+ Wishes in Las Vegas At the JCK show, the lab-grown diamond brand teamed up with Jewelers for Children to support Make-A-Wish India.
AuctionsJun 10, 2026
31.62-Carat ‘Azure Blue’ Diamond Sells For $8M+ at Christie’sIt was a banner day for blue gemstones, with another blue diamond topping $8 million and a 41-carat sapphire going for $2.3 million.
MajorsJun 10, 2026
Saks Global Receives Bankruptcy Court Approval for ReorganizationThe approval means the retailer is on track to exit bankruptcy proceedings this summer.
CrimeJun 10, 2026
2 Suspects Arrested in Texas Jewelry Store RobberyThe men are believed to be part of the group of several masked suspects that robbed Marc Robinson Jewelers in April.
CollectionsJun 10, 2026
Sylvie Debuts ‘Elevated’ Bridal Collection Inspired By Designer’s RingThe bridal-focused brand is also launching its Custom Atelier this summer, a digital custom design tool for its authorized retailers.
EditorsJun 09, 2026
Q&A: Al Cook on the Lab-Grown ‘Bubble,’ Dwindling Diamond Supply The De Beers Group CEO also discussed tariffs, Desert Diamonds, and the pending sale of De Beers in an interview with Michelle Graff.
MajorsJun 09, 2026
Wilkerson's Russ Whitehouse RetiresThe industry veteran is bringing his 56-year run in the fine jewelry sector to an end.
Events & AwardsJun 09, 2026
Pride Month Panel to Highlight LGBTQ+ Jewelry VoicesThe panel discussion will feature LGBTQ+ leaders across the jewelry, luxury, and creative industries.
CollectionsJun 09, 2026
Marie Lichtenberg’s New Capsule Collection Is a Smash, LiterallyInspired by a locket that got run over, the “Smash” capsule collection reimagines the shape of Lichtenberg’s signature style.
MajorsJun 09, 2026
Frederick Goldman Names Director of Sales for SoutheastThe company has promoted Katherine Whitacre to the role.
MajorsJun 08, 2026
Stuller Expands Selection of Lab-Grown Diamonds, Demi-Fine JewelryThe jewelry manufacturer has added Taylor Swift-esque diamond shapes, and more silver, gold vermeil, and gold-plated jewelry.
SourcingJun 08, 2026
Sally Morrison to Depart De Beers This Summer Morrison has been marketing diamonds on and off since the early 2000s and said she is leaving to “pursue new projects.”
TrendsJun 08, 2026
Amanda’s Style File: June’s Birthstone TrioThose born in June can celebrate with pearl, alexandrite, and moonstone jewelry.
TechnologyJun 08, 2026
Overnight Mountings Launches Ring Builder PlatformThe platform allows retailers to guide clients through a customizable engagement ring buying experience in a branded interface.
IndependentsJun 05, 2026
Pennsylvania Jewelry Store To Close After 79 YearsJim Springer, owner of Dunkelberger’s Fine Jewelry, is heading into retirement.
SurveysJun 05, 2026
Consumers to Cut Back on Spending Amid Rising Prices, Survey Shows When conducting its May consumer confidence survey, The Conference Board asked extra questions about consumers’ budgeting strategies.
CollectionsJun 05, 2026
Rebel Jewelry’s Charm Symbolizes Perseverance for Pride MonthThe “Tunnel” charm, our Piece of the Week, celebrates Pride Month with its design inspired by hope and the light at the end of the tunnel.
