De Beers reports sharp output drop as Botswana and South Africa mines scale back

De Beers announced an 11% year-on-year decline in rough diamond production for the third quarter of 2026, largely because of planned maintenance at its Botswana operations and preparations for a two-year production suspension at the Venetia mine in South Africa. Botswana’s output dropped 20%, with Orapa’s production falling 36% and Jwaneng’s down 5%, while South African production fell 37% after Venetia reduced mining and processing ahead of the pause.

The company’s overall production also slipped 13% from the previous quarter. Gains in Canada, where De Beers now reports 100% of Gahcho Kué’s output after acquiring the remaining stake, and in Namibia helped offset some of the decline. Despite weaker prices, rough diamond sales volumes rose sharply, though average realised prices fell sharply year-on-year.