De Beers Group reported a strong start to 2026, with rough diamond production climbing 17% year-on-year to 7.1 million carats in the first quarter. The growth was primarily driven by higher output levels in Canada and South Africa.
The sharpest increase came from Canada, where production surged 163% to 1.0 million carats following planned ore releases at Gahcho Kué. South Africa also delivered strong gains, with output rising 53% to 0.7 million carats, supported by improved underground mining volumes at Venetia Mine.
In Botswana, production edged up 5% to 4.8 million carats, maintaining its position as De Beers’ largest source of supply. Meanwhile, Namibia saw output decline 12% to 0.6 million carats due to vessel maintenance impacting offshore mining activity.
While production rose, pricing remained under pressure. The company’s consolidated average realised price fell 19% to $101 per carat, and the De Beers rough diamond price index dropped 17%. The decline was attributed to weaker market conditions and a greater share of lower-value goods sold during the quarter.
Despite softer prices, De Beers increased sales volumes to 7.7 million carats on a 100% basis, helping revenue rise 25% to $648 million.
The company acknowledged that rough diamond trading conditions remain difficult, citing ongoing industry weakness along with geopolitical uncertainty and tariff-related pressures.
Looking ahead, De Beers has maintained its full-year production guidance of 21 million to 26 million carats for 2026. The group said it will continue adjusting output levels in line with global demand trends.
Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.
