AuctionsSep 17, 2025
Mythical Set of Patek Philippe Pocket Watches Expected to Sell for $10M+A set of four Patek Philippe “Star Caliber 2000” pocket watches is part of Sotheby’s upcoming auction in Abu Dhabi.
SourcingFeb 02, 2021
De Beers’ 2020 Production Down 18%, Lowers ’21 Forecast
The diamond miner and marketer’s updated production target is now 32 million to 34 million carats.
The Orapa Mine in Botswana. De Beers’ production fell 18 percent year-over-year in 2020, including a 28 percent drop in Botswana, its biggest producer. (©De Beers Group, Photo credit: Ben Perry, Armoury Films)
London—Rough diamond production was down 14 percent in the fourth quarter of 2020 and 18 percent on the year for De Beers Group due to mine shutdowns and a drop in demand resulting from COVID-19.
The diamond mining and marketing company reported late last week that it recovered 25.1 million carats of rough diamonds in 2020, down from 30.8 million carats in 2019.
In the fourth quarter, production totaled 6.7 million carats, down 14 percent year-over-year and 7 percent from the third quarter.
In Botswana, De Beers’ biggest producer, production was down nearly 30 percent year-over-year in 2020, falling from 23.3 million carats to 16.6 million carats.
In the fourth quarter, it declined 28 percent, driven by the planned treatment of lower-grade material (ore with a smaller volume of diamonds in it) at Jwaneng. Partially offsetting the drop at Jwaneng was a 9 percent increase at Orapa due to a planned improvement in grade.
Production in Canada, where De Beers operates one mine, Gahcho Kué, fell 15 percent on the year and was down 23 percent in the fourth quarter due to maintenance.
In Namibia, production was down 15 percent year-over-year and 26 percent in the fourth quarter as the marine mining fleet remobilized after being sidelined in Q3.
In South Africa, production nearly doubled year-over-year, jumping from 1.9 million to 3.7 million carats. In the fourth quarter, production nearly tripled from 434,000 carats to 1.3 million.
Venetia, the company’s last mine in the country, posted expected improvement in ore grade at what is the last cut before the open-pit mine transitions into an underground operation.
COVID-19 was the main reason that De Beers’ production fell nearly 20 percent year-over-year.
It had to close or significantly reduce work at its mines for health and safety reasons.
In addition, mid-stream demand for rough was lower as manufacturers also were forced to shut down, then used the resumption of retail activity as a time to destock instead of buying more rough.
For 2021, De Beers has dialed back its expectations for production, citing not COVID-19 but ongoing operational challenges involving the plant at Orapa and lower expected production from the final cut at Venetia.
The company now predicts it will mine between 32 million to 34 million carats of rough diamonds, down from 33 million to 35 million.
RELATED CONTENT: Alrosa Ends Difficult Year With Strong Q4
De Beers echoed what Alrosa said in reporting its
preliminary fourth-quarter and full-year results last month—rough diamond sales picked up in late 2020 after stagnating in the first half of the year due to the pandemic.
Indications are that “encouraging” levels of consumer demand continued in the United States during the holiday season while China also performed well, De Beers said.
Rough diamond sales totaled 6.9 million carats from two sights in Q4, compared with 6.6 million carats from three sights in the third quarter.
The full-year consolidated average realized price declined by 3 percent to $133 per carat from $137 per carat in 2019. An increased proportion of higher-value rough diamonds sold in 2020 was not enough to completely offset the 10 percent reduction in the average rough price index.
Indications are that “encouraging” levels of consumer demand continued in the United States during the holiday season while China also performed well, De Beers said.
Rough diamond sales totaled 6.9 million carats from two sights in Q4, compared with 6.6 million carats from three sights in the third quarter.
The full-year consolidated average realized price declined by 3 percent to $133 per carat from $137 per carat in 2019. An increased proportion of higher-value rough diamonds sold in 2020 was not enough to completely offset the 10 percent reduction in the average rough price index.
More on Sourcing
The Latest
TrendsSep 17, 2025
Silvia Furmanovich’s Book Tells the ‘Journey of a Jeweler’The Brazilian jeweler’s latest book marks her namesake brand’s 25th anniversary and tells the tale of her worldwide collaborations.
WatchesSep 17, 2025
Bob’s Watches Acquires Vintage Rolex Won on ‘The Price is Right’ The Submariner Ref. 1680 with a Tiffany & Co. dial came from the original owner, who won it as a prize on the game show in the 1970s.
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.
TechnologySep 17, 2025
Jewelers Mutual Launches Shipping Solution App for Shopify The new integration allows users to manage shipments directly from the Shopify dashboard.
Weekly QuizSep 12, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
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.
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.
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.
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.
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.
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.
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.
