De Beers Reports 11% Drop in Third-Quarter Diamond Production

The group’s October 20 production report attributes the decline primarily to planned maintenance at Orapa and lower production at Venetia ahead of a planned two-year pause. Botswana output fell 20% to 4.8 million carats. Year-to-date production nevertheless reached 21.7 million carats, 22% above the comparable 2025 period.

That distinction matters for jewelry businesses assessing supply: a weaker quarter does not mean cumulative production has contracted. De Beers raised its full-year guidance to 25–28 million carats from 21–26 million.

The report also changes the basis for Gahcho Kué: following full ownership from October 16, the operation will be reported at 100% from the fourth quarter, rather than the previous attributable 51%. A larger reported share is not itself new global diamond supply.