Botswana Drives De Beers’ 38% Surge in Diamond Production for Q3 2025

De Beers Group has reported a remarkable 38% year-on-year increase in diamond production for the third quarter of 2025, reaching a total of 7.7 million carats. This surge was largely driven by strong operational performance in Botswana, reaffirming the country’s position as the cornerstone of De Beers’ global production portfolio. The Jwaneng mine, often referred to as the richest diamond mine in the world by value, played a central role by operating at full capacity and processing higher-grade ore ahead of planned maintenance later in the year. Together with the Orapa mine, Botswana’s output rose an impressive 51% to 6 million carats, underscoring the nation’s dominance in the company’s production mix.

Beyond Botswana, De Beers recorded varied regional performance across its global operations. In South Africa, production climbed 28% to 0.7 million carats due to improved underground ore grades and steady operational efficiency. Namibia’s offshore marine mining activities maintained stable output at 0.5 million carats, reflecting consistent vessel utilization and recovery rates. In contrast, Canada experienced a 15% decline in production to 0.5 million carats as a result of processing lower-grade ore from the Gahcho Kué mine. Despite these regional differences, De Beers’ consolidated performance highlights its ability to manage a geographically diversified portfolio and adapt to shifting ore grades and operational challenges.

On the commercial front, rough diamond sales rebounded to 5.7 million carats (4.6 million consolidated), generating approximately US$700 million in revenue. However, the average realized price per carat fell slightly by 3% to US$155, reflecting softer market conditions and a 14% decline in the rough diamond price index. The diamond industry continues to face headwinds, particularly from subdued trading sentiment and the impact of U.S. tariffs on Indian diamond imports, which have constrained downstream demand and liquidity. Nonetheless, a recent policy adjustment brought some relief, as natural diamonds were added to the U.S. Tariff Annex III list, easing trade restrictions for key partners and improving the outlook for the final quarter of 2025.

De Beers has reaffirmed its 2025 production guidance of 20 to 23 million carats, with expected unit costs remaining steady at around US$94 per carat. This operational consistency, combined with Botswana’s strong performance, highlights the company’s resilience in maintaining profitability amid global market volatility. The synergy between De Beers and Botswana’s government, through their long-standing joint venture, Debswana, continues to be a cornerstone of both the company’s success and the country’s economic stability.

In a broader context, Botswana’s pivotal contribution to De Beers’ 2025 results emphasizes Africa’s central role in the global diamond supply chain. The sustained output from the Jwaneng and Orapa mines strengthens Botswana’s reputation as a model for resource management and equitable mineral partnership. As the diamond sector navigates evolving consumer preferences and market uncertainty, Botswana’s strategic collaboration with De Beers demonstrates how operational excellence and national partnership can drive resilience and sustained value creation in Africa’s mining industry.

Mini-Glossary

• Carat: A standard unit of weight for gemstones, equal to 0.2 grams.
• Ore Grade: The concentration of valuable minerals within mined rock; higher grades typically yield more recoverable material.
• Rough Diamond Price Index: A benchmark measure tracking price movements in uncut, unpolished diamonds.
• Tariff Annex III: A U.S. trade policy framework offering tariff exemptions or reductions for specified goods.
• Debswana: A 50-50 joint venture between De Beers and the Government of Botswana, managing the country’s main diamond mines.