Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...

16 april 2024

Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

De Beers output fell 8% to 31.9 Mcts in 2023

12 february 2024

De Beers’ rough diamond production fell 8% in 2023 to 31.9 million carats, compared to 34,6 million carats a year earlier.

This was the result of a planned reduction at Venetia output in South Africa as it transitions to underground operations.

South Africa's output dropped 64% to 2 million carats from the previous year’s 5,5 million carats.

Botswana continued to be the leading source of diamonds for De Beers, as its output grew 2% to 24,7 million carats, compared to 24,1 million carats in 2022.

De Beers’ output in Namibia also grew 9% to 2,3 million in 2023, compared to the previous year’s 2,1 million carats.

The Canadian output plateaued at 2,8 million carats.

Production guidance for 2024 was unchanged at between 29 million and 32 million carats.

However, De Beers said it will assess options to reduce production in response to prevailing market conditions.

Meanwhile, De Beers’ sales volume eased 19% to 27,4 million carats from the previous year’s 33,7 million carats.

Its full-year consolidated average realised price decreased by 25% to $147 per carat compared to $197 per carat, reflecting a larger proportion of lower-value rough diamonds being sold as well as a 6% decrease in the average rough price index.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished