Supplier BulletinAug 13, 2026
Your Piece Could Be the One Editors Talk AboutSponsored by American Gem Trade Association
SourcingJan 27, 2020
Diamond Production Down for De Beers and Rio Tinto
De Beers’ 2019 totals fell 13 percent year-over-year while Rio Tinto’s were down 8 percent.
The Venetia mine in South Africa, which is moving from an open-pit to an underground operation. De Beers’ production in South Africa fell 59 percent year-over-year. (Photo © De Beers Group, Photo credit: Ben Perry at Armoury Films)
New York—Like sales, diamond production fell by double digits in 2019 for De Beers Group, the world’s largest diamond miner in terms of value.
The miner and marketer recovered 30.8 million carats in 2019, down 13 percent year-over-year. Fourth quarter production was down 15 percent, to 7.8 million from 9.1 million previously.
South Africa experienced the steepest drop, with production down by more than half, totaling 1.9 million carats in 2019 compared with 4.7 million carats the previous year.
De Beers has only one mine left in South Africa after closing Voorspoed at the end of 2018.
Production in Botswana, De Beers’ largest source of diamonds, slipped 4 percent year-over-year to 23.3 million carats, while production in Namibia fell 15 percent to 1.7 million carats.
Recoveries in Canada dropped 13 percent to 3.9 million carats. The country’s Victor mine closed in the second quarter of 2019, though production at Gahcho Kué was up by 28 percent due to “strong plant performance.”
The full-year consolidated average realized price for rough diamonds was $137 per carat, down from $171/carat in 2018, primarily due to the company selling more lower-value rough in 2019 and a 6 percent drop in the rough diamond index.
De Beers predicts diamond production will pick up in 2020, with guidance set at 32 million to 34 million carats, due to an improving diamond market and an expected increase in production at the Venetia mine in South Africa, which is transitioning into an underground operation.
Rio Tinto, meanwhile, recorded an 8 percent drop in diamond production to 17.3 million carats compared with 18.4 million in 2018.
Production was down 8 percent at both its mines, Argyle in Western Australia (13 million carats mined in 2019) and Diavik in Canada (4 million carats mined).
The London-based miner said carat production dropped at Argyle due to lower recovered grade, which was partially offset by stronger mining and processing rates.
Lower ore availability and grade from Diavik’s underground operations impacted production there, though the company recovered more and better-quality rough from the mine’s A21 open pit.
Argyle, which is the world’s No. 1 source of red and pink diamonds, is set to close at the end of the year.
Rio Tinto expects diamond production to total 12 million to 14 million carats this year, with the decrease reflective of the planned closure of Argyle and lower grades at Diavik.
The company
Editors' Picks
Sponsored by
said overall, it expects general stability in global GDP growth this year, although it recognizes that could be disrupted by geopolitical tensions and oil price volatility.
The Latest
FinancialsAug 13, 2026
Pandora’s ‘Talisman’ Collection Shines, Lab-Grown Diamond Sales FallIn the United States, second-quarter sales were flat amid soft consumer sentiment and lower in-store traffic.
AuctionsAug 13, 2026
This Gold Cadbury ‘Conundrum’ Egg Set a World Auction RecordThe 22-karat gold egg, sold at Batemans Auctioneers in the U.K., was part of a 1980s treasure hunt ad campaign for Cadbury Creme Eggs.
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.
CollectionsAug 13, 2026
John Hardy Infuses ‘Icon,’ ‘Heishi’ Collections with ColorThe expanded collections now feature hand-cut gemstones like topaz, tanzanite, chrysoprase, chalcedony, smoky quartz, and fire opal.
Weekly QuizAug 07, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Lab-GrownAug 13, 2026
Jean Dousset Opens Third StoreThe lab-grown diamond jewelry brand’s newest boutique is in Westfield Valley Fair in Santa Clara, California.
CrimeAug 12, 2026
Elderly NYC Woman Targeted in Jewelry Swap SchemeTwo suspects offered to trade the woman a “winning” lottery ticket for her jewelry.
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.
SourcingAug 12, 2026
Another Diamond Mine Poised to CloseFinsch has been in business rescue since May, and owner Petra Diamonds said it sees no viable path forward for the mine.
CrimeAug 12, 2026
Jewelry Store Employee Gets 20 Years to Life in Choking Death of BossMichel Patrick DeSalles was sentenced after pleading guilty to the 2017 murder of Omid Gholian, who owned a jewelry store in Manhattan.
MajorsAug 12, 2026
Frederick Goldman Names New SVP of SalesLongtime industry executive Beth Miller has taken on the role.
AuctionsAug 11, 2026
Verdura Unicorn Brooch With Royal Connection Up for Auction The brooch was owned by Virginia Fortune Ryan Ogilvy, who served as a lady of the bedchamber to Queen Elizabeth II for nearly 50 years.
MajorsAug 11, 2026
Signet Jewelers Selects Mattel Exec to Lead Zales, BanterJamie Cygielman will take on the role on Aug. 24.
IndependentsAug 11, 2026
Polly’s Fine Jewelry Co-Owner Richard Moore Dies at 69Moore, Polly’s husband, is remembered as a family man with an easygoing spirit and a love for sports and the outdoors.
ColumnistsAug 11, 2026
Creative Connecting: How to Sell Colored Gemstones to Gen ZDuvall O’Steen and Jen Cullen Williams share the best ways to display, present, and explain colored gemstones to younger customers.
Events & AwardsAug 11, 2026
NAJA Announces Lineup For 2026 Fall Virtual ConferenceThe mid-year conference for jewelry and watch appraisers will take place Sept. 5-6 on Zoom.
TechnologyAug 10, 2026
Colorado Jeweler Launches Customization Tool He Built HimselfHonest Hands Ring Co. Founder Benjamin Bosworth shared his thoughts on jewelry technology and why AI can never replace the human element.
MajorsAug 10, 2026
QVC Exits Chapter 11 Bankruptcy, Names New Interim CEOQVC Group President and CEO David Rawlinson is temporarily being replaced by a familiar face, former QVC CEO Mike George.
CollectionsAug 10, 2026
State Property Puts a Ripple in the ‘The Voyager’ CollectionThe brand also added two one-of-a-kind brown diamond pieces to the “Sanssouci” series of its “Gardens” collection.
MajorsAug 10, 2026
And IJO’s 2026 Vendor of the Year Is … Ostbye took home top vendor honors at the Independent Jewelers Organization’s show, held last month in Kentucky.
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.
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.
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.
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.
