MajorsJan 09, 2026
Kendra Scott Taps Activewear Exec as CEO Chris Blakeslee has experience at Athleta and Alo Yoga. Kendra Scott will remain on board as executive chair and chief visionary officer.
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
SurveysJan 09, 2026
U.S. Holiday Retail Sales Up 4%, Visa, Mastercard SayThe credit card companies’ surveys examined where consumers shopped, what they bought, and what they valued this holiday season.
AuctionsJan 09, 2026
Christie’s Names New Global Managing Director for LuxuryKimberly Miller has been promoted to the role.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
CollectionsJan 09, 2026
Piece of the Week: Lionheart’s ‘Serenity’ Opal CharmThe “Serenity” charm set with 13 opals is a modern amulet offering protection, guidance, and intention, the brand said.
Weekly QuizJan 08, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJan 08, 2026
Pandora’s New ‘Bridgerton’ Jewels Celebrate Bees, Bows, and Blooms“Bridgerton” actresses Hannah Dodd and Claudia Jessie star in the brand’s “Rules to Love By” campaign.
Events & AwardsJan 08, 2026
Ana Khouri To Receive 2026 Gem Award for High Jewelry ExcellenceFounded by jeweler and sculptor Ana Khouri, the brand is “expanding the boundaries of what high jewelry can be.”
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
TrendsJan 08, 2026
Stuller’s Color of the Year Is a Stark Contrast to Pantone’s WhiteThe jewelry manufacturer and supplier is going with a fiery shade it says symbolizes power and transformation.
CollectionsJan 08, 2026
Gracie Abrams To Front New Chanel Jewelry CampaignThe singer-songwriter will make her debut as the French luxury brand’s new ambassador in a campaign for its “Coco Crush” jewelry line.
MajorsJan 08, 2026
Diamond Council of America Names New Board DirectorsThe nonprofit’s new president and CEO, Annie Doresca, also began her role this month.
ColumnistsJan 07, 2026
Peter Smith: Physical Retail—The Beginning or the End?As the shopping mall model evolves and online retail grows, Smith shares his predictions for the future of physical stores.
Events & AwardsJan 07, 2026
Melee Adds 13 New Designers to NYC ShowThe trade show is slated for Jan. 31-Feb. 2 at The Lighthouse in New York City's Chelsea neighborhood.
TrendsJan 07, 2026
Amanda’s Style File: Go for GarnetJanuary’s birthstone comes in a rainbow of colors, from the traditional red to orange, purple, and green.
CrimeJan 06, 2026
2 Jewelers Arrested After TraxNYC Diamond District BrawlFootage of a fight breaking out in the NYC Diamond District was viewed millions of times on Instagram and Facebook.
MajorsJan 06, 2026
Rio Grande Says These Are the Top Personalization Tools for 2026The supplier has a curated list of must-have tools for jewelers doing in-house custom work this year.
MajorsJan 06, 2026
Zales Tests Out A New LookThe Signet Jewelers-owned store, which turned 100 last year, calls its new concept stores “The Edit.”
MajorsJan 06, 2026
LeachGarner Appoints New Director of SalesLinda Coutu is rejoining the precious metals provider as its director of sales.
TrendsJan 05, 2026
Amanda’s Style File: New Year’s EditionSparkle with festive diamond jewelry as we celebrate the beginning of 2026.
IndependentsJan 05, 2026
Jeweler Ben Nighthorse Campbell Dies at 92The master jeweler, Olympian, former senator, and Korean War veteran founded the brand Nighthorse Jewelry.
TrendsJan 05, 2026
Pinterest 2026 Trend Report: Brooches, Bold Gold, Cool BlueIn its annual report, Pinterest noted an increase in searches for brooches, heirloom jewelry, and ‘80s luxury.
MajorsJan 02, 2026
Marc Metrick Out as CEO of Saks Global Executive Chairman Richard Baker will take over the role as rumors swirl that a bankruptcy filing is imminent for the troubled retailer.
Events & AwardsJan 02, 2026
Jan Mohr, Couture’s ‘North Star,’ Dies at 71Mohr had just retired in June after more than two decades as Couture’s retailer liaison.
SourcingJan 02, 2026
IDCA Elects New President, Board of DirectorsShekhar Shah of Real Gems Inc. will serve as president of the Indian Diamond & Colorstone Association in 2026.
CollectionsJan 02, 2026
Lalaounis’ 2026 Good Luck Charm Speaks to ResilienceThis year’s good luck charm features the mythical horse Pegasus, and is our first Piece of the Week of the new year.
EditorsDec 31, 2025
The Top 5 Stories of 2025Articles about crime, engagement rings, and a necklace worn in the World Series generated the most interest among readers.
MajorsDec 30, 2025
Becka Johnson Kibby to Lead Edge Retail AcademyAs part of the leadership transition, Sherry Smith will take on the role of vice president of coaching strategy and development.
