SurveysOct 16, 2026
How Inflation, Gas Prices Will Affect Holiday Sales The NRF is expecting holiday sales to increase this year, but consumers and retailers alike are facing Grinch-like headwinds.
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
CollectionsOct 16, 2026
Christina Puchi’s Earrings Hold the UniverseOur Piece of the Week gathers the planets, represented by a variety of colored gemstones, in a pair of 14-karat yellow gold earrings.
IndependentsOct 16, 2026
Reeds Jewelers Expands, Relocates FlagshipThe New York-based jeweler is moving its Amherst flagship store to a larger location in nearby Snyder.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
MajorsOct 16, 2026
Katy Chen Appointed Executive Vice President of Graff USA Chen, who worked at Cartier and Tiffany & Co., will lead retail sales and operations for the luxury jeweler’s 11 U.S. stores.
Weekly QuizOct 15, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsOct 15, 2026
Retailer Hall of Fame 2026: Amy and Elise Greenberg For 40 years, sisters Amy and Elise Greenberg have helmed their 126-year-old family business, leading with appreciation and integrity.
ColumnistsOct 15, 2026
Peter Smith: What Is the Culture REP?It’s a term Smith coined and felt compelled to share following a bad experience with an aborted flight and an unfeeling flight attendant.
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.
WatchesOct 15, 2026
Stephanie Gottlieb’s New Movado Watches Are Made for Your Wrist StackMovado teamed up with the New York-based fine jewelry designer on a new collection of Movado Museum Velura watches.
CollectionsOct 15, 2026
Wolf x Marla Aaron's New Jewelry Box Is for Some (Not All) of Your ThingsThe “Some of the Things” box follows the two larger “Everything” box designs with the look and function of antique sewing and toolboxes.
IndependentsOct 14, 2026
Retailer Hall of Fame 2026: Coleman and Mitchell ClarkFourth-generation jewelers Coleman and Mitchell Clark exemplify the best qualities of their predecessors: humility, modesty, and confidence.
FinancialsOct 14, 2026
LVMH’s Jewelry Brands Turn in ‘Very Good’ Performance in Q3 Tiffany & Co. continued its full-scale store renovation project while Bulgari’s high jewelry collection generated “record-breaking revenue.”
Events & AwardsOct 14, 2026
Chicago Responsible Jewelry Conference Releases 2026 ProgramThis year’s sessions feature leading voices from human rights, legal, and conservation organizations.
MajorsOct 13, 2026
David Webb Owner Purchases Lugano JewelryThe high-end jewelry retailer was sold to private investment firm Middle West Partners and a group of longtime clients.
Lab-GrownOct 13, 2026
Stephanie Gottlieb Takes Lab-Grown Diamond Collection WholesaleThe jewelry designer has partnered with Sofer Jewelry to distribute her 85-piece lab-grown diamond collection.
IndependentsOct 13, 2026
Retailer Hall of Fame 2026: Sean DunnDunn, this year’s Single-Store Independent inductee, is passionate about innovation and telling the story of natural diamonds.
AuctionsOct 13, 2026
Christie's Geneva To Auction 'Bulgari Pink' DiamondThe 24-carat fancy intense pink diamond ring could fetch up to $18 million at the November sale.
IndependentsOct 13, 2026
Greenwich St. Jewelers’ New Candle Smells Like HomeThe “Island Jewel” candle honors New York City and Puerto Rico and raises money for the island’s water relief efforts.
TechnologyOct 13, 2026
GemFind Is a New JA Member Benefit Partner The partnership will give JA members access to preferred pricing, exclusive benefits, technology solutions, education, and resources.
SurveysOct 09, 2026
These Will Be the 10 Busiest Days for In-Store Shopping This Holiday SeasonStores should expect to see the most customers on Nov. 27, and Christmas week is expected to be hectic too, as Dec. 25 falls on a Friday.
CollectionsOct 09, 2026
Elisa Solomon Collabs With Serendipity 3 on ‘Frozen Hot Chocolate’ CharmThe charm, our Piece of the Week, features brown diamond frozen hot chocolate topped with white diamond whipped cream and a ruby straw.
AuctionsOct 09, 2026
8-Carat Blue Diamond Goes Unsold at UK Jewelry Auction The top lot of Elmwood’s recent fine jewelry sale in London was a 1.84-carat, D color Tiffany & Co. solitaire diamond ring.
WatchesOct 09, 2026
Movado to Sell Majority Stake in Ebel for $66.5MThe watch company agreed to sell a 95 percent interest to a group comprised of F.P. Journe, Chanel, and Swiss watch exec Pierre Jacques.
Policies & IssuesOct 08, 2026
Third Wave of IEEPA Tariff Refunds Begins This round of tariff refunds is for importers that have sued over IEEPA tariffs in the Court of International Trade and won.
CollectionsOct 08, 2026
Brent Neale’s New Collection Goes ‘Back to Basics’It revisits the brand’s most requested silhouettes, from "Pillow"-set necklaces and bracelets to "Signature"-set rings and earrings.
SourcingOct 08, 2026
Ethical Gem Fair Heads Back to BrooklynThe trade-only event includes buying opportunities as well as educational sessions on artisanal mining, the new Paraíba source, and more.
Events & AwardsOct 08, 2026
Pattons Fine Jewelry Sweeps Local Design ContestAra Chanakian, a jeweler at Pattons, took home top honors in every category at Jewelers of Louisiana’s annual jewelry design competition.
