Events & AwardsJul 11, 2025
The Edge’s Annual Conference Returns in SeptemberIts sessions will focus on inventory strategies, staff performance, retention and acquisition, emerging market trends, and more.
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
CollectionsJul 11, 2025
Piece of the Week: Miseno’s ‘Arco’ EarringsFor its 10th anniversary, Miseno designed the “Arco” earrings based on the Arco Felice, an arch conceptualized in A.D. 95 in Miseno, Italy.
Policies & IssuesJul 11, 2025
James Avery to Donate $1M to Texas Hill Country Relief EffortsThe jewelry company is one of several contributing to relief efforts in the region after the recent floods.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
TrendsJul 11, 2025
Kelly Osbourne’s Engagement Ring Is Sweet as HoneyInspired by fiancé Sid Wilson’s nickname for her, the white and yellow diamond ring features a unique honeycomb design.
Weekly QuizJul 10, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJul 10, 2025
Penny Preville Celebrates 5 Decades of Jewelry DesignThe brand is marking its 50th anniversary with a limited-edition bangle, high jewelry suites, new collections, and more.
IndependentsJul 10, 2025
Steven Goldfarb to Retire, Close Alvin Goldfarb JewelerGoldfarb said changes in the industry, coupled with his age and the updates needed to modernize his business, drove his decision.
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.
MajorsJul 10, 2025
LVMH Names New Chairman, CEO of the AmericasLongtime LVMH executive Michael Burke has stepped into the role.
Events & AwardsJul 10, 2025
IAC Gold and Diamond Conference Returns to NYC Central topics of next week’s event include climate action, labor rights, artisan preservation, and value retention in producing countries.
MajorsJul 10, 2025
Hearts On Fire Appoints New Sales DirectorVickie Rokkos has joined the jewelry company as its new national sales director of North America.
SurveysJul 09, 2025
Jewelry Stays Strong as Luxury Market Slows, Bain & Co. Says Turbulence will be the new baseline for luxury as it faces its biggest potential setbacks in 15 years, a recent report said.
Supplier BulletinJul 09, 2025
JCK Unwrapped: Trends, Insights & Post-Show TipsSponsored by Rio Grande Jewelry Supply
CollectionsJul 09, 2025
Cece Jewellery’s New Fruit Jewels Celebrate Life’s SweetnessThe “For the Love of Fruits” collection features five fruit pendants, each holding a different meaning.
EditorsJul 09, 2025
The Most-Read Stories of 2025, So FarDiamonds and crimes (some involving diamonds) top the list of National Jeweler’s most popular stories halfway through the year.
CollectionsJul 08, 2025
Mikimoto’s High Jewelry Collection Turns Pearls into PetalsThe “Les Pétales” collection imagines roses caught mid-bloom as a tribute to nature’s beauty.
ColumnistsJul 08, 2025
Peter Smith: Why Jewelers Struggle With Premium PricingLuxury brands charge thousands for their shoes and handbags. Jewelers pricing diamond products should take note, Peter Smith writes.
IndependentsJul 08, 2025
David Rotenberg of David Craig Jewelers Dies at 79Rotenberg was an active member of the American Gem Society and an accomplished appraiser who also worked with therapy dogs at a hospital.
TechnologyJul 08, 2025
‘Diamond Divas’ Brings the Showroom to Social Media Reality SeriesIt follows New York-based brand Shahla Karimi Jewelry’s all-women team in “Say Yes to the Dress” meets “The Office”-style episodes.
Policies & IssuesJul 08, 2025
SMO Gold Launches New FoundationIn its inaugural year, the SMO Foundation will focus on supporting two organizations in West Africa and one in South America.
Policies & IssuesJul 07, 2025
Higher Tariffs Set to Take Effect Aug. 1, Officials SayThe announcement comes just as the 90-day freeze on the “reciprocal” tariffs nears its end, giving countries more time to negotiate.
CrimeJul 07, 2025
7 Suspects Charged in California Jewelry Store BurglaryPolice officers apprehended the suspects as they were allegedly attempting to gain entry into another jewelry store.
Events & AwardsJul 07, 2025
Applications Open for Ella Klein Internship The program, a collaboration between Julius Klein Diamonds and the Women’s Jewelry Association, is in its second year.
Supplier BulletinJul 03, 2025
Protect Your Customers and Your BusinessSponsored by the Gemological Institute of America
MajorsJul 03, 2025
Brilliant Earth Names Tennis Star Madison Keys as Its New AmbassadorThe 2025 Australian Open champion is the jewelry brand’s first athlete ambassador.
MajorsJul 03, 2025
Muse Sets Up Shop in Nordstrom’s New Jewelry HallThe West Village jewelry boutique’s new shop-in-shop is the cornerstone of Nordstrom’s revamped jewelry hall.
SourcingJul 03, 2025
SRK Announces Its Natural Diamonds Are Now Carbon-NegativeThis past year, the manufacturer said it recorded below-zero emissions per carat of natural diamond.
