Namibia's Diamond Output Hit by Price Drops and Lab Growns
January 05, 26
(IDEX Online) - Namibia's rough diamond production fell by 3.5 per cent year-on-year during Q3 2025, as prices fell, demand for lab growns increased and inventories grew.
The Bank of Namibia said in its quarterly bulletin that the country's output was 442,000 carats, down by 15.3 per cent on the previous quarter, valued at N$ 2.41bn (USD 147.3m).
"The decrease stemmed from planned actions to lower production at Debmarine Namibia on the back of a combination of downside pressures, including the falling price due to rising demand for lab-grown diamonds and high inventory levels."
It said rough diamond revenue for Q3 fell by 19 per cent year-on-year and 17.4 per cent compared with the previous quarter.
The bank noted "persistently soft consumer demand in key markets such as China and the United States" as well as oversupply of diamonds by some major producers.
Namibia's diamond sector is a cornerstone of its economy, historically accounting for 7 to 10 per cent of its GDP and 30 per cent of export earnings. Around three quarters of diamonds are recovered from the seabed by Debmarine's fleet of ships.
Pic shows one of Debmarine's new underwater crawlers for sucking up diamonds from the seabed.