De Beers keeps production targets despite weaker sales

The diamond producer reported revenue of US$1.6 billion during the first half of 2026, down from US$2 billion recorded during the same period last year, as subdued rough diamond demand continued to weigh on the business. Production guidance for 2026 was set for 21 to 26 million carats. 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 backdrop of lower realised diamond prices, which declined to US$105 per carat this half year from US$155 per carat in the 2025 half year results. Earnings remained under pressure, with De Beers recording an EBITDA or earnings before interest, taxes, depreciation, and amortisation loss of US$113 million although this represented an improvement from the US$189 million loss reported in the first half of 2025. Speaking during the announcement of the group’s results last week, De Beers Vice President, Diamond Trading, Paul Rowley said the diamond industry continued to face pressures from an unstable macroeconomic enviroment affected by geopolitical tensions. ‘The strongest bond of human sympathy outside the family relation should be one uniting working people of all nations and tongues and kindreds’.- Abraham LincolnUntil then, the Council’s operations remain suspended, delaying critical decisions affecting thousands of public sector employees.The current standoff is between the Manual Workers Union on one side and the Six Cooperating Trade Unions, namely BONU, BOPEU, BTU, BDU, BOSETU and…