Namibia’s diamond production increased by 8% in the first quarter of 2025, reaching 631,000 carats, according to production figures released by De Beers Group.
The figures show that Debmarine Namibia’s output rose sharply by 17% to 461,000 carats, up from 395,000 carats recorded in the fourth quarter of 2024. However, Namdeb’s production declined by 10% to 170,000 carats, compared to 189,000 carats in the previous quarter.
De Beers stated that Namibia’s overall production remained stable during the period, noting: “Planned reductions at Debmarine Namibia were offset by the mining of higher-grade ore and improved recoveries at Namdeb.”
The report also highlighted broader market dynamics, indicating that demand for rough diamonds remained muted in the first quarter of 2025.
“Consumer demand for diamond jewellery in the United States over the year-end holiday season was in line with expectations, however, rough diamond demand in the first quarter remained subdued as the midstream continued its cautious approach to restocking due to excess loose polished diamond inventory,” the company said.
In South Africa, De Beers reported a 19% decline in production to 0.5 million carats, citing changes in shift configurations as well as heavy rainfall and flooding in January 2025, which temporarily restricted access to mining operations. Botswana also recorded an 8% decrease in output to 4.6 million carats, in line with the company’s planned efforts to scale back production.
During the first quarter, De Beers sold 4.7 million carats of rough diamonds (4.2 million on a consolidated basis) across two Sights, generating consolidated revenue of US$520 million. This represented a sharp decline compared to the same period in 2024, when 4.9 million carats (4.6 million consolidated) were sold for US$925 million.
The average realised price per carat fell by 38% to US$124, driven by changes in the sales mix, stock rebalancing, and a 15% decline in the rough diamond price index.
Despite the challenging market environment, De Beers maintained its full-year production guidance at between 20 and 23 million carats on a 100% basis. The company also reaffirmed its unit cost guidance at approximately US$94 per carat and stated that it continues to adopt a cautious yet flexible approach to market management.
“While there were signs of loose polished diamond prices stabilising towards the end of the quarter, lifting industry confidence, ongoing macroeconomic uncertainty, in particular the impact of US tariffs, will likely result in continued cautious Sightholder purchases in the near term,” the company said. “We continue to manage the business to preserve cash while maintaining underlying value.”
