De Beers recorded a significant rebound in rough diamond sales during the third quarter of 2025, selling US$700 million worth of stones from two trading sessions — more than triple the US$213 million achieved in the same period last year.
The mining giant attributed the increase to a combination of higher output from its Botswana operations and the sale of specific assortments at lower margins as part of stock rebalancing efforts. Production rose 38 percent year-on-year to 7.7 million carats, driven chiefly by the Jwaneng mine, which processed higher-grade ore ahead of planned maintenance in the final quarter.
While sales improved markedly, the group noted that trading conditions “continued to be challenging”. The rebound seen earlier in the year was undermined by new US tariffs on diamond imports from India — a key cutting and polishing centre. Some relief came in September when Washington granted tariff exemptions to natural diamonds from partner economies with trade agreements, with the European Union already benefiting from the measure.
Consumer demand for diamond jewellery remained broadly stable in major markets, particularly the United States. Despite stronger quarterly sales, De Beers reported that its average realised price per carat was down 3% for the year to date, reflecting softer market prices.
The company maintained its full-year production guidance of between 20 and 23 million carats and a unit cost forecast of around US$94 per carat. (Photo courtesy: De Beers)
19-11-2025
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