AuctionsApr 29, 2025
‘Golconda Blue’ Diamond Pulled From AuctionThe 23-carat fancy vivid blue diamond, set to headline Christie’s May jewelry auction, was expected to sell for as much as $50 million.
SourcingJul 20, 2017
De Beers Production Up 21% So Far This Year
This includes a 36 percent increase in the second quarter, with De Beers describing diamond trading conditions as “stable.”
An aerial shot of De Beers’ new Gahcho Kué mine in Canada, which officially opened last fall. The opening of this new mine helped buoy production figures for De Beers Canada in the first half of 2017, parent company Anglo American said.
London--De Beers’ rough diamond production is up so far this year, with the diamond miner and marketer reporting trading conditions as “stable.”
Figures reported Thursday morning by parent company Anglo American show that De Beers mined 8.7 million carats of rough diamonds in the second quarter, a 36 percent increase when compared with the second quarter 2016.
For the first half of the year, rough diamond production has totaled 16.1 million carats, compared with 13.3 million carats in the first half of 2016, a 21 percent increase.
The biggest increase came from the De Beers operations in Canada, where the new Gahcho Kué mine, which officially opened in fall 2016, reached nameplate (full expected) capacity. The mine is a joint venture of De Beers (51 percent) and Mountain Province Diamonds (49 percent).
Production also increased for Namdeb Holdings, the mines De Beers operates in cooperation with the government of Namibia, as Debmarine Namibia’s Mafuta vessel was in operation again after being on planned extended in-port maintenance in the second quarter 2016.
Debmarine is the arm of De Beers that also recently launched a new $157 million vessel for diamond exploration and sampling in the Atlantic Ocean.
The company’s full-year guidance production remains unchanged at 31 to 33 million carats.
Sales-wise, De Beers’ consolidated rough diamond sales volumes were down year-over-year in the second quarter, with sales totaling 5.4 million carats from two sights, compared with 9.6 million carats from three sights in the same period last year. Apart from the extra sight, De Beers said it was up against difficult comps because of the high level of midstream restocking in the prior-year period.
Sales are up for the entire first half of 2017, reaching 19.1 million carats, compared with 17.2 million carats in the first half of 2016.
The average realized price for rough diamonds in the first half of 2017 was $156 per carat, a 12 percent decrease year-over-year. De Beers said there was strong demand for lower-value goods at the first sight of 2017 as diamond traders in India who recovered from the impact of that country’s demonetization program started buying goods again early this year.
More on Sourcing
The Latest
IndependentsApr 29, 2025
Maryland Jeweler to Close After 36 YearsG.B. Heron Jewelers in Salisbury, Maryland, is set to close as its owner, Jeff Cassels, retires.
ColumnistsApr 29, 2025
Google Ads vs. Social Media Ads: Which Are More Effective?Emmanuel Raheb outlines the differences between the two platforms and posits that the most successful jewelers use both.
Brought to you by
Watch: The Winston Red: GIA Examines the Smithsonian’s Newest AdditionSupplier Spotlight Sponsored by GIA
CrimeApr 28, 2025
Customs Seizes Nearly 2,000 Pieces of Counterfeit Van Cleef & Arpels JewelryU.S. customs agents in El Paso, Texas, intercepted the package, which would have been worth $9 million if the jewelry was genuine.
Weekly QuizApr 24, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsApr 28, 2025
Suzanne Kalan Launches Tech Ring Jacket CollectionHealth monitors become statement pieces when paired with the brand’s new collection of stackable diamond-studded bands.
Events & AwardsApr 28, 2025
JCK Industry Fund Announces 2025 Grant RecipientsTen organizations were selected this year.
Brought to you by
Emerging Jewelers Accelerator Program Announces Second Cohort of Aspiring Jewelry Entrepreneurs Six new retail businesses were selected for the 2025 program, which began in January.
IndependentsApr 28, 2025
John Atencio Appoints 2 to Wholesale TeamKim Carpenter and Sam Gevisenheit have joined the brand.
CollectionsApr 25, 2025
Sylvie Looks to Water in New Sculptural Bridal Collection“Shell Auranova” is the next generation of the brand’s bridal line, featuring half-bezel engagement rings with bold and fluid designs.
FinancialsApr 25, 2025
Kering’s Jewelry Brands Persevere as Q1 Sales Sink 14%Boucheron and Pomellato performed well in an otherwise bleak quarter for Kering amid struggles at Gucci.
EditorsApr 25, 2025
Piece of the Week: Deborah Meyers Experience’s ‘The Birds’ EarringsDesigner Deborah Meyers created her birds from oxidized sterling silver, rose-cut diamond eyes, and Akoya Keshi pearl feathers.
Supplier BulletinApr 24, 2025
Protect Your Customers and Your BusinessSponsored by the Gemological Institute of America
EditorsApr 24, 2025
Q&A: Wolf’s CEO Talks U.S. ExpansionSimon Wolf shares why the time was right to open a new office here, what he looks for in a retail partner, and why he loves U.S. consumers.
IndependentsApr 24, 2025
Longtime Iowa Jeweler Herman Ginsberg Dies at 99 A third-generation jeweler, Ginsberg worked at his family’s store, Ginsberg Jewelers, from 1948 until his retirement in 2019.
FinancialsApr 24, 2025
Charles & Colvard Delisted From Nasdaq Due to NoncomplianceThe company failed to file its quarterly reports in a timely manner.
SourcingApr 24, 2025
Young Diamantaires Transition to NonprofitThe organization also announced its board of directors.
TrendsApr 24, 2025
Amanda’s Style File: So CharmingCharms may be tiny but with their small size comes endless layering possibilities, from bracelets to necklaces and earrings.
MajorsApr 23, 2025
Bulgari Doubles Size of Jewelry Factory in ItalyLocated in Valenza, the now 355,000-square-foot facility includes a new jewelry school that’s open to the public, Scuola Bulgari.
Events & AwardsApr 23, 2025
PDPaola Creative Director Wins FGI’s ‘Rising Star’ AwardPaola Sasplugas, co-founder of the Barcelona-based jewelry brand, received the Fine Jewelry Award.
AuctionsApr 23, 2025
Rare Custom Rolex Daytona Heads to AuctionA platinum Zenith-powered Daytona commissioned in the late ‘90s will headline Sotheby’s Important Watches sale in Geneva next month.
MajorsApr 23, 2025
David Yurman’s New Campaign Stars Carmelo Anthony, Jaylen BrownThe basketball stars wear men’s jewelry from the “Curb Chain” collection.
MajorsApr 22, 2025
Zales’ Rebrand Takes Playful Approach to Fine JewelryThe Signet Jewelers-owned retailer wants to encourage younger shoppers to wear fine jewelry every day, not just on special occasions.
AuctionsApr 22, 2025
Christie’s to Auction JAR Jewelry CollectionThe 21 pieces, all from a private collector, will be offered at its Magnificent Jewels auction next month.
ColumnistsApr 22, 2025
The PR Adviser: Building Buzz Through Word of MouthLilian Raji answers a question from a reader who is looking to grow her jewelry business but has a limited marketing budget.
GradingApr 22, 2025
Avi Levy Is GCAL By Sarine’s New Chief Growth OfficerGCAL by Sarine created the new role to sharpen the company’s focus on strategic partnerships and scalable expansion.
IndependentsApr 22, 2025
Brinker’s Jewelers Acquires Fellow IndependentThe Indiana jeweler has acquired Scottsdale Fine Jewelers in Scottsdale, Arizona.
