Anglo American has reported an 11% decrease in De Beers’ rough diamond production for the third quarter of 2026, down to 6.8 million carats compared to 7.7 million carats in the same period last year.
The decline was primarily driven by planned plant maintenance at Orapa in Botswana and a planned slowdown at Venetia in South Africa ahead of its two-year production pause.
Botswana production decreased 20% to 4.8 million carats.
In South Africa, production decreased 37% to 0.4 million carats, with no further carat production expected in 2026.
Namibian production remained stable at 0.5 million carats.
Canadian production increased 108% to 1.1 million carats due to the planned processing of higher-grade ore at Gahcho Kue.
Meanwhile, De Beers assumed full ownership of the Gahcho Kue mine on 16 October 2026, following the enforcement of security over Mountain Province Diamonds' 49% interest.
De Beers will now report 100% of the mine's production and sales rather than 51%.
Anglo American said that rough diamond trading conditions showed signs of stability during the third quarter, reflecting a more balanced supply-demand landscape and improved consumer demand across the US and India.
However, synthetic lab-grown diamonds continued to affect demand for lower-value natural diamonds.
Rough diamond sales in Q3 2026 totaled 9.8 million carats (8.7 million carats on a consolidated basis) from two Sights, generating consolidated rough diamond sales revenue of $731 million.
The year-to-date consolidated average realised price declined by 37% to $97 per carat.
Due to De Beers assuming full ownership of Gahcho Kue, 2026 production guidance has been revised upward to 25-28 million carats on a 100% basis (previously 21-26 million carats).
"At De Beers, we continue to work towards a transaction in a challenging market, having taken decisive action to protect cash and preserve value,” said Anglo chief executive Duncan Wanblad.
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
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