… Despite the lower sales environment, De Beers said it would continue with its production guidance, with output reaching 14.9 million carats in the first half of the year compared with 10.2 million carats during the same period in 2025.However, the optimism comes against a backdro …
… BONGANI MALUNGA De Beers has rejected renewed claims that it owes Botswana billions of pula in unpaid taxes as opposition pressure mounts on government to explain its handling of…
Sunday Standard De Beers battles on as diamond slump deepens The global diamond industry remains under severe pressure, with De Beers reporting another difficult six months as weak rough diamond demand, lower prices and intensifying competition from laboratory-grown stones contin …
Production rebounds, but the company says planned maintenance and weak trading conditions are expected to weigh on output later this year GAZETTE REPORTER De Beers’ rough diamond production rose 88 percent to 7.8 million carats in the second quarter of 2026, reflecting the impact …
… She said efforts were bearing fruit to promote and market Botswana diamonds through the ‘House of Botswana’, a partnership between government and De Beers,as well as key stakeholders in the mid and downstream diamond industry Photo: Phenyo Moalosi
De Beers’ production report for the second quarter of 2026 arrives amid a diamond industry landscape marked by both operational resilience and mounting challenges. …
The global diamond industry is on the cusp of a major shift as Anglo American prepares to sell its majority stake in De Beers, the world’s most iconic diamond company. …
Sunday Standard Botswana drives De Beers production rebound despite weak market De Beers lifted rough diamond production sharply in the first half of 2026, with Botswana accounting for nearly 70 percent of total output, even as weak prices and subdued consumer demand continued to …
De Beers reported first-half revenue of US$1.6 billion, down from US$2 billion a year ago, as rough diamond demand remained subdued and realized prices fell to US$105 per carat from US$155 per carat. The company maintained its 2026 production guidance of 21 to 26 million carats, producing 14.9 million carats in the first half compared with 10.2 million carats in the same period last year, though EBITDA losses of US$113 million persisted.
De Beers reported first-half revenue of US$1.6 billion, down from US$2 billion a year ago, as rough diamond demand remained subdued and realized prices fell to US$105 per carat from US$155 per carat. The company maintained its 2026 production guidance of 21 to 26 million carats, producing 14.9 million carats in the first half compared with 10.2 million carats in the same period last year, though EBITDA losses of US$113 million persisted.
De Beers has rejected claims that it owes Botswana P14 billion in unpaid taxes, while opposition pressure grows for government to clarify its handling of the matter.
De Beers, the world's largest diamond producer, reported weak rough diamond demand, lower prices, and competition from laboratory-grown stones continued to pressure earnings in its latest six-month period, though the company noted early signs that market disruption may be easing.
De Beers' rough diamond production rose 88 percent to 7.8 million carats in the second quarter of 2026, reflecting recovery from an extended maintenance shutdown at Orapa in Botswana, though planned maintenance and weak trading conditions are expected to weigh on output later this year.
Botswana's export revenues totaled P25.6 billion from January to May 2026, a 17.3 percent decline from P31 billion in the same period last year, with diamond exports falling by P6.65 billion as the primary driver of the drop. The trade deficit widened by P3 billion to P13 billion over the same period.
De Beers once sold nine out of ten diamonds globally, but today sells about three out of ten, a decline analogous to industry giants like Blockbuster and Kodak that failed to adapt to technological change.
Lucara Botswana presented a 1,305.4-carat diamond recovered at Karowe Diamond Mine to President Boko. The stone is the tenth weighing over 1,000 carats recovered at the mine since operations began, and the minister noted the diamond market is on a rebound with strong demand for large stones.
De Beers' rough diamond production jumped 88% year-over-year to 7.8 million carats in the second quarter of 2026, largely driven by Botswana's mines where output more than doubled to 5.5 million carats following maintenance resumption at Orapa and higher-grade mining at Jwaneng. Sales declined slightly to 7.1 million carats amid geopolitical instability, shifting consumer preferences, and rising synthetic diamond competition.
Anglo American is preparing to sell its majority stake in De Beers to a consortium led by Gareth Penny, a former De Beers CEO. Botswana, which holds a 15 percent stake in the company, is considering whether to exercise its right of first refusal, partner with the bidder, or approve a new ownership structure.
De Beers raised rough diamond production sharply in the first half of 2026, with Botswana providing nearly 70 percent of total output, though weak prices and subdued consumer demand continue to constrain revenue and profitability.
Anglo American has chosen a consortium led by former De Beers CEO Gareth Penny as the preferred bidder for its 85% stake in De Beers, with the sale expected to close by the end of 2026. The divestment reflects mounting market challenges for natural diamonds, including competition from lab-grown alternatives and declining revenues.
De Beers' chief executive has indicated that the long-running uncertainty surrounding the diamond company's future ownership could soon end, with a sale potentially completed within weeks.
The Index of Mining Production rose to 82.2 in Q1 2026, up from 77.2 a year earlier, marking a 6.3 percent year-on-year increase after a difficult 2025 when diamond production declined. The quarter-on-quarter jump from 40.9 in Q4 2025 to 82.2 in Q1 2026 signals recovery in a sector critical to Botswana's economy.
De Beers contributed an estimated P11.31 billion to Botswana's economy in 2025 through taxes, local procurement, wages, and shareholder returns, slightly below the previous year's P11.47 billion despite continued global diamond market weakness.
De Beers CEO Al Cook has indicated that the company's future ownership structure could evolve, signaling a potential shift in the company's long-term corporate model. Botswana has long sought to deepen its influence over the diamond giant.
De Beers reports increased US consumer spending on natural diamonds, raising hopes for a P7 billion Diamonds for Development Fund created under a recent government partnership. The positive outlook arrives as Botswana's economy has been strained by weak diamond sales over the past two years.
De Beers research suggests natural diamonds continue to command strong consumer demand in the United States, potentially providing relief for Botswana's diamond-dependent economy amid government revenue pressures from a prolonged global diamond market downturn.
UK research firm Business Monitor International has warned that Botswana's banking sector faces escalating challenges from weak macroeconomic growth, tighter monetary policy, and rising macro-fiscal risks, which could hinder performance and restrict balance sheet growth, liquidity, and profitability. The firm projects real GDP growth of 1.5 percent this year, following a 0.7 percent contraction in 2025, citing weak demand for exports and persistent uncertainty in the diamond sector.
De Beers' Desert Diamonds campaign is promoting natural colour, individuality and origin to drive renewed demand for natural diamonds at the JCK jewellery trade show in Las Vegas.
Slumber Tsogwane, as Vice President, once defended President Masisi's use of insulting language in public; now rebranded as a social-media figure with 185,000 Facebook followers, Tsogwane has dramatically readjusted his views on public use of insulting language.
Former President Dr Mokgweetsi Masisi, speaking at the State Memorial Service for late former President Dr Festus Mogae, described him as a genuine democrat and patriot whose conduct embodied Botswana values. Masisi highlighted Mogae's role as a transformative leader who shaped the nation's economic trajectory, including championing diamond beneficiation and relocating diamond valuing and sorting from London to Gaborone.
De Beers reported total carats recovered reached 7.133 million in Q1 2026, an 88% jump from Q4 2025 and 17% rise year-on-year, driven by planned ore releases and higher underground volumes. The company noted that despite the production gains, rough diamond trading conditions remained challenged due to industry, geopolitical and tariff headwinds.
In 2006, as President Festus Mogae addressed the HIV/AIDS pandemic, Botswana fought the narrative that African diamonds were "blood diamonds." De Beers invested billions in advertising to correct the narrative while Mogae took Botswana's voice to the world stage to resist a single story defining the continent.
De Beers' rough diamond production rose to 7.13 million carats in the first quarter of 2026, up 17 percent year-on-year, with Botswana's mines producing 4.81 million carats—about 67 percent of group output.