IndependentsMay 13, 2025
Eiseman Jewels’ Renovated Dallas Store Is Bigger and BetterLocated in NorthPark Center, the revamped store is nearly 2,000 square feet larger and includes the first Tudor boutique in Dallas.
SourcingJan 29, 2019
De Beers’ 2018 Production Up, Sales Slide
The company mined 35.3 million carats of diamonds, coming in at the low end of its forecasted range of 35-36 million carats.
Debswana employees are pictured here inside the pit of the Orapa mine in Botswana. Debswana, the joint venture between De Beers and the government of Botswana that’s in charge of mining in the country, reported a 6 percent year-over-year increase in production in 2018, due in part to increased production at Orapa. (Photo credit: © De Beers)
London—De Beers’ production rose 6 percent year-over-year in 2018, though sales were down as demand for lower-quality rough diamonds dropped off in the second half of the year.
Parent company Anglo American reported Thursday that De Beers mined 35.3 million carats of diamonds in 2018, compared with 33.5 million carats in 2017. This included a 12 percent increase in fourth quarter production, from 8.1 to 9.1 million carats.
Production in Botswana—De Beers’ top country for diamond mining—was up 6 percent due to a 20 percent total increase in production at three mines: Orapa, Letlhakane and Damtshaa.
In Namibia, production rose 11 percent as the Mafuta crawler (one of the company’s off-shore mining vessels) spent less time in port, though the country’s land mining operations were mothballed. De Beers said last February it was looking for a buyer for Elizabeth Bay but hasn’t found one.
Production in South Africa dropped 10 percent. De Beers has just two diamonds mines left in South Africa, Venetia and Voorspoed, and is set to close Voorspoed, leaving it with one operation in the country.
In Canada, where De Beers also will soon be down to one diamond mine, production rose 19 percent year-over-year due to higher grades at the Victor mine as it nears end-of-life.
Sales came in lower than production.
De Beers sold 33.7 million carats of diamonds in 2018, down 4 percent from 35.1 million carats in 2017, as demand for lower-value rough diamonds declined in the second half of the year.
For the full year, the average realized price was $171 per carat, up 6 percent from $162 per carat in 2017, with fewer lower-value rough diamonds sold during the year.
As previously reported, De Beers forecasts it will mine fewer diamonds in 2019, between 31 and 33 million carats.
It is predicting lower output this year because production at South Africa’s Venetia mine is transitioning from an open-pit operation to underground and because the Victor mine in Canada is scheduled to permanently close in the first half of 2019.
More on Sourcing
The Latest
MajorsMay 13, 2025
DCA Announces New Learning Platform, Course UpdatesThe nonprofit has made updates to the content in its beginner and advanced jewelry sales courses.
MajorsMay 13, 2025
BIJC Launches New Education FundBIJC President Malyia McNaughton will shift roles to lead the new foundation, and Elyssa Jenkins-Pérez will succeed her as president.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
TrendsMay 13, 2025
State of Jewelry Design: The Top 10 Jewelry Trends of the Past DecadeAs a nod to the theme of JCK Las Vegas 2025, “Decades,” National Jeweler took a look back at the top 10 jewelry trends of the past 10 years.
Weekly QuizMay 08, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Lab-GrownMay 12, 2025
Lightbox to Go Dark by Summer, De Beers Says The company plans to halt all consumer-facing activity this summer, while Lightbox factory operations will cease by the end of the year.
Policies & IssuesMay 12, 2025
Tariffs on Chinese Imports Temporarily Slashed as U.S.-China Reach Deal Following weekend negotiations, the tax on Chinese goods imported into the United States will drop by 115 percent for the next 90 days.
Brought to you by
Watch: The Winston Red: GIA Examines the Smithsonian’s Newest AdditionSupplier Spotlight Sponsored by GIA
Events & AwardsMay 12, 2025
Jewelry By Picasso, Dalí on Display at Florida Art Museum “Artists’ Jewelry: From Cubism to Pop, the Diane Venet Collection” is on view at the Norton Museum of Art through October.
Events & AwardsMay 12, 2025
CASE Awards Now Accepting Entries For 2025The deadline to submit is June 16.
IndependentsMay 09, 2025
Lugano Diamonds CEO Resigns Amid Internal InvestigationMoti Ferder stepped down Wednesday and will not receive any severance pay, parent company Compass Diversified said.
CollectionsMay 09, 2025
Pieces of the Week: Marie Lichtenberg’s Collaborations for Mother’s DayLichtenberg partnered with luxury platform Mytheresa on two designs honoring the connection between mothers and daughters.
CrimeMay 08, 2025
Former NYC Jewelry Store Employee Arrested in 2017 Choking Death of Boss Michel Desalles allegedly murdered Omid Gholian inside World of Gold N Diamond using zip ties and then fled the country.
EditorsMay 08, 2025
5 ‘Superfine’ Met Gala Jewelry MomentsAssociate Editor Lauren McLemore shares her favorite looks from a night of style inspired by Black dandyism.
Supplier BulletinMay 08, 2025
Instappraise Introduces Game-Changing Trifold Appraisal FormatSponsored by Instappraise
FinancialsMay 08, 2025
Brilliant Earth Notes an Uptick in Engagement Ring Sales in Q1CEO Beth Gerstein discussed the company’s bridal bestsellers, the potential impact of tariffs, and the rising price of gold.
IndependentsMay 08, 2025
Margot McKinney Lands in the U.S. With New BoutiqueThe brand’s first independent location outside of Australia has opened in Beverly Hills, California.
IndependentsMay 08, 2025
Verragio Announces New Regional Sales ManagerCathy Marsh will lead the jewelry company’s efforts in the upper Midwest and western United States.
FinancialsMay 07, 2025
Pandora Posts Strong Q1, Plans for TariffsThe company has multiple strategies for dealing with tariffs, though its CEO said moving manufacturing to the U.S. is not one of them.
ColumnistsMay 07, 2025
The Smart Lab: Building a Seasonal Marketing Strategy for Mother’s Day and BeyondConnecting with your customers throughout the year is key to a successful holiday marketing push.
TechnologyMay 07, 2025
Punchmark’s Latest Podcast Features a Very Special Guest National Jeweler Editor-in-Chief Michelle Graff joined Michael Burpoe to talk tariffs, consumer confidence, and the sky-high price of gold.
AuctionsMay 06, 2025
Harwell Godfrey Reimagines 10-Carat Blue Diamond for Met Gala-Ready BroochDesigner Lauren Harwell Godfrey made the piece as an homage to the 2025 gala’s theme, “Superfine: Tailoring Black Style.”
Events & AwardsMay 06, 2025
Here’s Who Made Jewelers of America’s New ‘20 Under 40’ ListExpanded this year to include suppliers, JA’s 2025 list honors 40 up-and-coming professionals in the jewelry industry.
IndependentsMay 06, 2025
Sissy's Log Cabin Opens New StoreLocated in Fort Smith, it’s the Mid-South jeweler’s first store in Northwest Arkansas.
IndependentsMay 06, 2025
Gunderson’s Jewelers to Be Featured on ‘World’s Greatest’ TV SeriesThe episode about the family-owned jeweler will premiere May 17.
IndependentsMay 05, 2025
Zadok Jewelers Opens Store in AustinThe Houston-based jeweler’s new 11,000-square-foot showroom will include a Rolex boutique.
AuctionsMay 05, 2025
Nancy Astor’s Cartier Tiara Heads to AuctionThe turquoise and diamond tiara hasn’t been on the market since it was purchased by Lord Astor in 1930.
