CollectionsApr 08, 2026
Hearts On Fire Celebrates 30 Years By Asking a QuestionThe “What’s Your Signature?” campaign invites women to think about how they see themselves.
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
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.
More on Sourcing
The Latest
Events & AwardsApr 08, 2026
AGS Confluence Returns with AI, Sustainability SessionsRob Bates of The Jewelry Wire will also moderate a panel on the state of the jewelry industry during the virtual event.
Events & AwardsApr 08, 2026
TJS to Honor 2 Longtime Former Stuller EmployeesThe Jewelry Symposium will honor two industry veterans with lifetime achievement awards at its upcoming May event.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
TrendsApr 08, 2026
Amanda’s Style File: April’s Brilliant Birthstone With their durability, brilliance, and beauty, diamonds are the perfect stone for everyday birthstone jewelry.
Weekly QuizApr 02, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsApr 07, 2026
QVC Group’s Latest Filing Calls Its Future Into QuestionThe retailer failed to file its annual report on time and said it may issue a going concern warning.
ColumnistsApr 07, 2026
Peter Smith: A Tip to the Post Office on Workplace CultureSmith recounts a recent trip to the post office that included an uncomfortable, embarrassing, and public exchange between two employees.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
GradingApr 07, 2026
GIA CFO David Tearle to Retire in June John Cowley, who has more than 30 years of experience, is succeeding Tearle as the lab’s chief financial officer.
CollectionsApr 07, 2026
Nerd Out Over Gemology Geek’s First Jewelry CollectionFounder Erica Silverglide has designed 35 colorful pieces set with fluorescing gemstones for the brand's first finished jewelry offering.
CollectionsApr 07, 2026
Ukrainian Jewelers Highlighted In New Book“Ukrainian Jewelry | Contemporary Jewelry and Art Jewelry from Ukraine” features 33 contemporary Ukrainian designers and studios.
CollectionsApr 06, 2026
Fope’s New Jewelry Debuts Are Golden“The Golden Now” campaign celebrates the here and now with the brand’s signature styles and a selection of its new pieces.
MajorsApr 06, 2026
Kecia Caffie, Corinne Bentzen No Longer With Signet JewelersSignet confirmed that Caffie, president of Zales and Banter, and Bentzen, who headed Blue Nile, have left the company.
CollectionsApr 06, 2026
Historian Tanzy Ward Pens Book on Black Victorians’ JewelryThe antique jewelry dealer talks about the importance of including Black Americans in jewelry history and preserving their stories.
CollectionsApr 03, 2026
Taylor Swift’s ‘Elizabeth Taylor’ Video Puts Jewelry Front and CenterIconic pieces, like the Mike Todd Diamond Tiara, appear in the superstar’s new music video for her song inspired by the actress.
MajorsApr 03, 2026
Saks Global Says It Will Emerge From Bankruptcy This SummerThe luxury retailer, which went Chapter 11 in January, announced Thursday that it has secured $500 million in exit financing.
Events & AwardsApr 03, 2026
JCK Luxury, NouvelleBox Partner on New Designer BallroomThe NouvelleBox ballroom will feature independent jewelry designers, including Lene Vibe, Wyld Box Jewelry, and Kiaia Limited.
CollectionsApr 03, 2026
Buddha Mama Brings Its ‘Moon’ Locket To DallasThe one-of-a-kind locket, our Piece of the Week, opens to reveal three hidden images to keep close to your heart.
MajorsApr 02, 2026
Pandora Opens New Canadian Distribution Center Amid Tariff ConcernsThe new facility was also designed to better serve its growing customer base in Canada.
TrendsApr 02, 2026
Michelle Yeoh Fronts New Mikimoto Campaign The campaign is a tribute to the year 1893, when Kokichi Mikimoto created the world’s first cultured pearl.
GradingApr 02, 2026
GIA Debuts New Campus in TaiwanIt is the only GIA school to offer the GIA Graduate Gemologist program in Chinese.
MajorsApr 02, 2026
DCA Launches ‘Second Spark’ Workforce InitiativeThe initiative connects veterans and parents returning to the workforce with careers in jewelry retail.
MajorsApr 02, 2026
Hoover & Strong Names New National Sales RepresentativeThe wholesale manufacturer and precious metals refiner has appointed Michael Angelo as its new national sales representative.
MajorsApr 01, 2026
Foundrae Sues Pandora for Allegedly Copying Its Medallion DesignsFoundrae also accused the jewelry giant of copying its mood board style of marketing.
AuctionsApr 01, 2026
John Jacob Astor IV’s Titanic Pocket Watch Heads to AuctionA Patek Philippe for Tiffany & Co. timepiece owned by the American businessman who died on the Titanic will be offered at Freeman's Chicago.
SurveysApr 01, 2026
Consumers’ Outlook Improves Again in MarchThe Conference Board’s Consumer Confidence Index edged up, with optimism about the present outweighing worries about the future.
IndependentsApr 01, 2026
Zachary’s Jewelers’ Constance Polamalu to Release Children’s BookThe retailer’s Zach Bear gift comes to life in “Zach Bear and the Window Necklace,” which centers on curiosity, bravery, and helping.
