De Beers rough diamonds production surges to 17% in Q1

The De Beers Group has reported its rough diamond production in Q1 2026 increased by 17% to 7.1 million carats, primarily driven by planned ore release from Gahcho Kué in Canada and higher volumes from Venetia underground. 

In Botswana, production increased by 5% to 4.8 million carats, as a result higher recovered grade at Orapa. Jwaneng production was broadly consistent with the comparative period. 

Meanwhile, in South Africa, production was up by 53% to 0.7 million carats, due to the processing of higher volumes of underground ore. 

Additionally, production in Canada increased to 1.0 million carats, reflecting the planned ore release in Gahcho Kué from a new area of the mine. 

In contrast, production in Namibia decreased by 12% to 0.6 million carats, due to scheduled maintenance on two vessels at Debmarine Namibia along with the impact of decommissioning two vessels in 2025. 

Rough diamond sales from its two ‘Sights’ (a sales process that De Beers uses to distribute diamonds to diamond cutters) in Q1 2026 totalled 7.7 million carats, generating consolidated rough diamond sales revenue of $648m (£479.8m). 

This was up from Q1 2025 rough diamond sales of 4.7 million carats  from two Sights, generating consolidated rough diamond revenue of $520m (£385m).

However, the consolidated average realised price decreased by 19% to $101/carat, primarily driven by a 17% decrease in the average rough price index and a sales mix with a higher proportion of lower value goods. 

Looking ahead, production guidance for 2026 is unchanged at 21–26 million carats (100% basis), and the unit cost guidance is unchanged at c.$80/carat (£59.2/carat). 

The group stated that it will continue to monitor rough diamond trading conditions in order to align output with prevailing demand.