De Beers Reports 38% Increase in Q3 Diamond Output, Driven by Jwaneng Mine
Diamond miner De Beers produced 7.7 million carats in the third quarter ended September 30, marking a 38% year-on-year increase. The growth was primarily driven by higher output from its Jwaneng mine in Botswana.
Operations in Botswana saw a 51% year-on-year rise in diamond production, totaling six million carats for the quarter.
De Beers attributed the increase to the processing of higher-grade ore at Jwaneng ahead of scheduled plant maintenance in the fourth quarter.
Meanwhile, the Orapa mine resumed operations in Q3 following planned maintenance in the second quarter.
De Beers’ South African operations recorded a 28% year-on-year increase in production, reaching 700,000 carats for the quarter. The growth reflected the processing of increased volumes of higher-grade underground ore.
Production in Namibia remained flat at 500,000 carats, while output in Canada declined 15% year-on-year to 500,000 carats due to the treatment of lower-grade ore.
Despite production gains, De Beers noted that rough diamond trading conditions remained challenging in Q3.
“The improvement in rough diamond demand seen during the first half of 2025 was undermined by new US tariffs on diamond imports from India. India remains the primary cutting centre for natural diamonds, and the US continues to be the largest end-market for diamond jewellery,” the company said.
There was a positive development in September when the US added natural diamonds to its Tariff Annex III list, making them eligible for tariff exemptions under trade agreements.
The EU has since secured these exemptions, and the industry awaits potential agreements with other countries. Consumer demand for natural diamond jewellery remained stable in the US and broadly stable globally, De Beers added.
During the third quarter, De Beers sold 5.7 million carats of rough diamonds across two sights, generating revenue of $700 million.
For the full year, the company maintains its production guidance at 20 million to 23 million carats.
