De Beers Sales Volume Up 71%, Average Price Down 45%

(IDEX Online) - De Beers' rough-diamond sales volumes rose 71 per cent year on year to 9.8 million carats in the third quarter.

But consolidated revenue increased just 4 per cent to $731 million, with the average selling price down 45 per cent to $84 per carat, compared with $154 a year earlier, according to parent company Anglo American, which published its production report on October 20.

Consolidated sales totaled 8.7 million carats, up 91 per cent from 4.6 million carats a year earlier. De Beers held two sales sights in both periods.

The company's rough-diamond price index fell 20 per cent year on year in the third quarter, reflecting continued pressure on prices across the market.

The higher sales volumes may partly reflect price reductions at De Beers' July sight, which could have encouraged buyers to purchase more goods.

However, the figures do not establish how much of the increase reflected stronger end-consumer demand, purchases brought forward from later periods or buyers responding to lower prices.

De Beers said rough-diamond trading conditions showed signs of stability during the quarter, citing a more balanced supply-and-demand landscape and improved consumer demand in the United States and India.

It also said lab grown diamonds continued to affect demand for lower-value natural diamonds, adding pressure in more price-sensitive categories.

For the first nine months of 2026, De Beers' consolidated rough-diamond sales revenue fell 15 per cent to $2.04 billion, despite a 36 per cent increase in consolidated sales volumes to 21.2 million carats.

The consolidated average realized price declined 37 per cent to $97 per carat, reflecting an 18 per cent drop in the rough-diamond price index and changes in the mix of goods sold.

Separately, De Beers' rough-diamond production fell 11 per cent year on year to 6.8 million carats in the third quarter, primarily because of planned plant maintenance at Orapa in Botswana and a slowdown at Venetia in South Africa ahead of a planned two-year production pause, according to the same report.

Anglo American raised De Beers' full-year production guidance to between 25 million and 28 million carats, from a previous range of 21 million to 26 million carats.

The revision reflects De Beers assuming full ownership of the Gahcho Kue mine in Canada after taking over its joint venture partner's 49 per cent interest.

Anglo American is seeking to sell its 85 per cent stake in De Beers amid a prolonged downturn in the diamond market.