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
Policies & IssuesSep 17, 2026
Tariffs on India Could Increase as Russian Sanctions Bill Heads to Trump’s DeskThe bill has a provision that allows the president to raise tariffs on countries that import Russian oil and gas to as much as 100 percent.
Events & AwardsSep 17, 2026
This Is the Winner of the 2026 Robert M. Shipley AwardThe American Gem Society presented the annual award to a former president of its board.
CollectionsSep 17, 2026
Cynthia Erivo, Zoë Chicco’s Jewelry Collab Is an Ode to TransformationThe “Chrysalis” capsule centers butterfly motifs representing growth, transformation, and the unfolding of who you are.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
Events & AwardsSep 17, 2026
Louisiana Retailer Kevin Patton Wins Lifetime Achievement AwardJewelers of Louisiana presented Patton, the third-generation president of Pattons Fine Jewelry, with the award at its annual convention.
Weekly QuizSep 17, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
PodcastsSep 16, 2026
Episode 9: Remembering Cindy EdelsteinTwo special guests join the podcast to commemorate the 10th anniversary of the designer advocate, mentor, and author’s untimely passing.
CollectionsSep 16, 2026
Jessica McCormack, L’Objet Collab on Homewares CollectionMcCormack brings sea-inspired motifs from her “Beaches” collection to L’Objet’s tableware, vanity pieces, and first-ever cutlery set.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
CrimeSep 16, 2026
JSA Issues Warning to NJ Jewelers After Rash of Smash and GrabsNine New Jersey jewelers have been victims of smash-and-grab robberies this year, prompting JSA to circulate a list of recommendations.
IndependentsSep 16, 2026
Bromberg & Co. Names New PresidentMarlin “Brian” Hood, who has been with the store for 20 years, will succeed Ricky Bromberg, who died earlier this month.
MajorsSep 16, 2026
Midas Chain Releases ‘House of Midas’ Bridal CatalogThe new bridal catalog features the latest jewelry collections and designs from timeless classics to modern silhouettes.
EditorsSep 15, 2026
2026 Emmys Jewelry: An Either/Or Proposition Stars wore either a necklace or earrings at 78th Primetime Emmy Awards but rarely both, Natalie Francisco notes.
ColumnistsSep 15, 2026
The Levels Your Website Must Clear Before AI Recommends YouJennifer Shaheen compares this new era of AI-powered SEO to a video game: your website must clear one level before advancing to the next.
IndependentsSep 15, 2026
Armadani Launches Retail Support Program for Holiday SeasonThe program highlights “Made in Italy” fine jewelry with digital merchandising, sales education, and local marketing support.
EditorsSep 15, 2026
Q&A: Signet Jewelers’ Joan Hilson on Diamond Demand, the HolidaysHilson, Signet’s chief operating and financial officer, discussed Q2, resurgent natural diamond demand, and why Blue Nile is a standout.
ColumnistsSep 14, 2026
Sherry Smith: Stop Waiting for December to Save Your ChristmasThe stores that have a great December are the ones that made good decisions in August, September, and October, Sherry Smith writes.
AuctionsSep 14, 2026
22 Carats of ‘Sunshine’ Are Up for AuctionThe 22.09-carat fancy yellow “Pragnell Kimberley Sunshine Diamond” is part of the fall jewelry sale at Heritage Auctions.
IndependentsSep 14, 2026
Greenwich St. Jewelers to Unveil Photography Exhibition“Adornos: Jewelry, Memory & What We Pass Down” honors the jewelry’s importance to New York City’s Latine communities.
CollectionsSep 11, 2026
A Sapphire ‘Stardust’ Ring From Greenwich St. Jewelers The Latine-owned New York jeweler is marking two milestones this year: its 50th anniversary and the 25th anniversary of the 9/11 attacks.
MajorsSep 11, 2026
The Wishing Place by JTV OpensThe jewelry retail broadcast network has sponsored a new space for Make-A-Wish East Tennessee on its campus in Knoxville.
Events & AwardsSep 11, 2026
The Edge Awards Scholarships to 2 Young Jewelry ProfessionalsThe recipients were recognized at the 24 Karat Club of the Southeastern United States’ annual banquet.
MajorsSep 10, 2026
Lagos Founder Steven Lagos Steps Down as CEO Keith Rolfe, CFO and COO of Lagos, is now at the jewelry brand’s helm while Steven takes on the role of executive chairman.
CrimeSep 10, 2026
FBI Offers $50K Reward for ‘Most Wanted’ Fugitive in $1M Jewelry HeistAlberto Perez-Elias is one of four men charged in the armed robbery of a Cape Coral, Florida, jewelry store and remains at large.
AuctionsSep 10, 2026
Massive Matched Pair of Paraíba Tourmalines Head to Sotheby’sThe “Kat Florence Luminas” will be offered together as one lot and could fetch up to $637,000.
SourcingSep 10, 2026
AGTA Announces 4 Newly Elected DirectorsFour directors were elected to the AGTA board and will serve three-year terms beginning in February.
AuctionsSep 10, 2026
Former Sotheby’s, Christie’s Exec Appointed CEO of Julien’s Auctions Ken Citron joins the celebrity memorabilia-focused auction house ahead of its first week-long series of events in Abu Dhabi.
FinancialsSep 09, 2026
Signet Jewelers to ‘Double Down’ on Blue Nile Amid Strong SalesThe jewelry retailer said it sees opportunity at higher price points, particularly in natural diamonds for bridal and fashion.
