EditorsSep 16, 2025
Out & About: 7 Great Quotes From Converge in CarlsbadAt Converge 2025, Editor-in-Chief Michelle Graff attended sessions on DEI, tariffs, security, and more. Here are her top takeaways.
SourcingJul 17, 2020
Alrosa, De Beers Report Q2 Results
Production fell by 30-50 percent while sales plummeted as COVID-19 took its toll.
Both De Beers Group and Alrosa released second-quarter sales and production results Thursday. Both were down as COVID-19 restrictions brought mining to a halt and hampered diamond demand worldwide. (Image courtesy of De Beers Group)
New York—Production fell by 30-50 percent in the second quarter for the world’s two largest diamond mining companies as they shut down mines due to the coronavirus pandemic and resulting lockdowns.
Alrosa, which is cutting production by as much as 18 percent this year, reported Thursday Q2 production fell 29 percent quarter-to-quarter and is down 42 percent year-over-year to 5.7 million carats.
Year-to-date production is down 22 percent to 13.7 million carats.
For De Beers, production dropped 54 percent year-over-year in the second quarter to 3.5 million carats, due primarily to restrictions in southern Africa, the company said.
In Botswana, the company’s biggest producer, De Beers mined 1.8 million carats in Q2, down 68 percent year-over-year due to a nationwide lockdown from April 2 to May 18 and the implementation of COVID-19 safety measures for the workforce.
Operations restarted in mid-May, with production targeted at levels to meet the lower demand.
Production in South Africa slipped 3 percent but rose 7 percent in Namibia, where De Beers was able to continue off-shore mining despite the lockdowns on land.
De Beers also saw production fall in Canada, decreasing 27 percent due to the Victor mine no longer being in operation and the COVID-19 safety measures put in place at Gahcho Kué, its lone active mine in Canada.
The company aims to cut production by as much as 26 percent this year.
Also on Thursday, both companies released figures on Q2 sales, which also took a nosedive due to the drop in demand caused by COVID-19 as both miners continue to let customers defer purchases.
Alrosa’s preliminary results show Q2 sales totaled 634,000 carats, 361,000 of which were gem-quality, a mere fraction of the 8.3 million carats sold in the second quarter 2019.
In the first six months of 2020, Alrosa has sold 10.1 million carats of rough diamonds, down 47 percent from 18.9 million carats in the first half of last year.
In the second quarter, Alrosa said the diamond price index was down less than 2 percent quarter-to-quarter and has slipped only 2 percent year-to-date, which the company tributes to its “price-over-volume” strategy.
In dollar terms, rough and polished sales totaled $87 million in the
second quarter, down 90 percent from Q1 and 89 percent year-over-year.
Year-to-date, sales have totaled $991 million. At this point last year, Alrosa had sold $1.78 billion in diamonds, a 44 percent decline.
De Beers’ rough diamond sales totaled 300,000 carats, compared with 9 million carats in Q2 2019.
In dollar terms, sales totaled $56 million, compared with $1.3 billion in the same period last year.
The company’s average realized rough diamond price was down 21 percent in the first half of the year to $119/carat (H1 2019: $151/carat), driven by a higher proportion of lower-value rough diamonds sold and an 8 percent reduction in the average rough price index.
De Beers canceled its third sight because of COVID-19-related travel restrictions and is letting sightholders defer up to 100 percent of their allocations at the fourth and fifth sights.
Alrosa too said it is satisfying “only the real demand while maintaining a stable price,” a policy aimed at “supporting long-term customers and the entire diamond industry.”
Year-to-date, sales have totaled $991 million. At this point last year, Alrosa had sold $1.78 billion in diamonds, a 44 percent decline.
De Beers’ rough diamond sales totaled 300,000 carats, compared with 9 million carats in Q2 2019.
In dollar terms, sales totaled $56 million, compared with $1.3 billion in the same period last year.
The company’s average realized rough diamond price was down 21 percent in the first half of the year to $119/carat (H1 2019: $151/carat), driven by a higher proportion of lower-value rough diamonds sold and an 8 percent reduction in the average rough price index.
De Beers canceled its third sight because of COVID-19-related travel restrictions and is letting sightholders defer up to 100 percent of their allocations at the fourth and fifth sights.
Alrosa too said it is satisfying “only the real demand while maintaining a stable price,” a policy aimed at “supporting long-term customers and the entire diamond industry.”
More on Sourcing
The Latest
CrimeSep 16, 2025
2 Robbery Suspects Killed in California Pawn Shop ShootoutSix people were shot last week at an Oakland cash-for-gold shop as employees exchanged gunfire with individuals trying to rob the store.
CollectionsSep 16, 2025
Chopard Adds New Designs to Its ‘Ice Cube’ Capsule CollectionThe jeweler has expanded its high jewelry offering, which launched last year, with new pieces featuring its cube motif that debuted in 1999.
Brought to you by
reDollar.com Is Rolling Out the Next Level Jewelry, Diamond & Watch Consignment ProgramWith their unmatched services and low fees, reDollar.com is challenging some big names in the online consignment world.
EditorsSep 15, 2025
Skipping the Necklace, Embracing Snakes: The Best Jewelry From the 2025 Emmy AwardsAssociate Editor Natalie Francisco shares eight of her favorite jewelry looks from the 77th annual Primetime Emmy Awards, held Sunday night.
Weekly QuizSep 12, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SurveysSep 15, 2025
Resilient Shoppers to Boost Holiday Retail Sales, Says DeloitteIt’s predicting a rise in retail sales this holiday season despite economic uncertainty and elevated inflation.
SourcingSep 15, 2025
AGTA Elects 8 Members to Board of Directors The newly elected directors will officially take office in February 2026 and will be introduced at the organization’s membership meeting.
Brought to you by
Rallying Call for the Jewelry Industry on Tariffs and Other Key IssuesJewelers of America is leading the charge to protect the industry amidst rising economic threats.
EditorsSep 12, 2025
Out & About: Mining Sapphires in Rock Creek, MontanaAssociate Editor Lauren McLemore headed out West for a visit to Potentate Mining’s operation hosted by gemstone wholesaler Parlé Gems.
TrendsSep 12, 2025
Piece of the Week: Arunashi’s Fordite and Rhodolite EarringsFordite is a man-made material created from the layers of dried enamel paint that dripped onto the floors of automotive factories.
Events & AwardsSep 12, 2025
Al Gilbertson Wins 2025 Robert M. Shipley AwardGilbertson has worked as a researcher, jeweler, lapidary artist, appraiser, and business owner throughout his decades in the industry.
Policies & IssuesSep 11, 2025
Supreme Court to Hear Tariffs Case in November A decision likely won’t come until January 2026 at the earliest, and the tariffs remain in effect until then.
MajorsSep 11, 2025
Tabayer Opens Nordstrom Shop-In-ShopLocated in the revamped jewelry hall at the retailer’s New York City flagship, this opening is Tabayer’s first shop-in-shop.
SourcingSep 11, 2025
Need to Sell More Natural Diamonds? De Beers Has an App for ThatThe new, free app offers accessible educational content, like games and podcasts, for U.S. retailers.
MajorsSep 10, 2025
Stuller to Swap Gold Scrap for Full Credit to AccountAs the gold price rises, the manufacturer is offering a 100 percent payout through Sept. 30 for gold clean scrap.
SourcingSep 10, 2025
Tech Meets Style in the New Loewe x Jacob & Co. HeadphonesJacob & Co. partnered with the German technology company on two pairs of headphones, one set with diamonds and the other with sapphires.
TrendsSep 10, 2025
Tiffany & Co. Archival Jewels Bring Life to ‘Frankenstein’Guillermo del Toro’s 2025 “Frankenstein” will feature 27 jewels and objects from the storied brand, including pieces from its archives.
MajorsSep 10, 2025
24 Karat Club of New York’s Banquet to Return to Waldorf AstoriaThe Waldorf Astoria New York’s grand reopening this past summer means a homecoming for the industry group’s annual event.
SourcingSep 09, 2025
Anglo American to Merge With Canadian Copper Miner Anglo plans to merge with Teck Resources Ltd. to form Anglo Teck. The deal changes nothing about its plans to offload De Beers.
AuctionsSep 09, 2025
‘The Mellon Blue’ to Return to Auction, This Time at Christie’s The 9.51-carat fancy vivid blue diamond, which set two world auction records at Sotheby’s in 2014, is estimated to fetch up to $30 million.
AuctionsSep 09, 2025
Phillips Names Dianne Batista Head of Jewels, New YorkThe industry veteran joins the auction house as it looks to solidify its footprint in the jewelry market.
MajorsSep 09, 2025
MJSA Education Foundation Announces 2025 Scholarship WinnersThe nonprofit awarded four students pursuing a professional career in jewelry making and design with $2,250 each.
IndependentsSep 08, 2025
Take a Look Inside the New Korman Store in AustinThe Texas-based jeweler has also undergone a brand refresh, debuting a new website and logo.
MajorsSep 08, 2025
MJSA Is Officially Now Under JA’s UmbrellaThe two organizations have finalized and signed the affiliation agreement announced in May.
AuctionsSep 08, 2025
Sotheby’s To Auction ‘Exceptional’ Collection of JAR, Suzanne Belperron JewelsThe single-owner sale will headline Sotheby's inaugural jewelry auction at the Breuer building, its new global headquarters, this December.
Events & AwardsSep 08, 2025
27 Can’t-Miss Converge Sessions, Events From sunrise yoga to tariffs talks, these are some events to check out at the upcoming inaugural event.
ColumnistsSep 05, 2025
Peter Smith: A Lasting Lesson From Maurice Tempelsman Smith recalls a bit of wisdom the industry leader, who died last week, shared at a diamond conference years ago.
