De Beers reduces Namibia's rough diamond output after vessel retirements

Diamond production in Namibia fell by 5% in the second quarter of 2025, dropping from 561 000 carats in the previous quarter to 535 000 carats. This reduction followed a planned decision to scale back production at Debmarine Namibia, which came after the retirement of the Coral Sea mining vessel and the removal of the Grand Banks vessel from operations. The Coral Sea, which had been used primarily for light offshore recovery and prospecting, was among the older units in Debmarine’s fleet. The Grand Banks, previously deployed across various marine zones, was withdrawn from service pending further operational decisions. These moves are part of a broader effort to optimise performance and reduce operational costs in response to softer demand.Modest reductionWhile global production across De Beers’ operations declined significantly, most notably in Botswana where output dropped by 44%, Namibia’s reduction was relatively modest. In Canada, production declined by 46% after the planned closure of the Victor mine.Namibia’s total diamond output for the first half of 2025 reached 1.166 million carats, compared to 1.194 million carats over the same period in 2024. This represents a 2% decline year-on-year, in line with deliberate efforts to match production with market demand.Market conditionsIn 2022, diamond exports brought in N$24.2 billion, declining slightly to over N$21 billion in 2024, based on figures from the Bank of Namibia and the mines ministry. The sector continues to rank among Namibia’s top three export contributors, alongside uranium and gold.Despite a 36% reduction in total rough diamond production in the second quarter of 2025, De Beers has not adjusted its full-year production forecast. The company still expects to produce between 20 and 23 million carats in 2025 and will manage capacity in response to market conditions.Namibian production is expected to remain subdued in the near term as Debmarine completes the restructuring of its fleet.

De Beers reduces Namibia's rough diamond output after vessel retirements

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Republikein 2026-03-03

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De Beers reduces Namibia's rough diamond output after vessel retirements

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