DiamondBuzz
De Beers intends To Reduce Rough Diamond Prices At July Sight
De Beers Will Lower Official Book Prices To Match Current Market Levels
De Beers intends to reduce official rough diamond prices or increase discounts at the July sight to better align with current market levels.
For months, De Beers has held its “book prices” strictly above actual market value to prevent flooding the supply chain with cheap gems during periods of weak demand. However, insiders report the company is ready to pivot and align its pricing with current market realities.
The miner’s book prices have been 20%-30% above market for smaller stones and 5%-15% higher for larger sizes, prompting the pricing adjustment.
Paul Rowley, De Beers’ Executive Vice President of Diamond Trading, recently met with major industry clients in Mumbai and Dubai to signal the change. Simultaneously, his team briefed traders in Antwerp, Belgium. According to industry insiders, De Beers is weighing three potential strategic moves for next week’s Sight in Gaborone, Botswana:
Direct Price Cuts: Lowering official book prices across the board to match current market levels (considered the most likely route).
Bespoke Discounts: Offering tailored, client-by-client discount packages.
The Hybrid Approach: A mix of both price reductions and targeted discounts.
While the market eagerly anticipates these cuts, De Beers’ leadership still needs the green light from its parent company, Anglo American, before finalizing the new pricing structure.
DiamondBuzz
Botswana Looks Beyond Rough Diamond Sales, Eyes U.S. Jewelry Market
The Duty Exemption By US Presents An Opportunity For Domestic Jewelry Manufacturers In Gaborone To Bypass Traditional Middle-Market Hubs and Establish A Direct Pipeline To American Consumers
Grappling with a painful downturn in global rough-diamond demand, Botswana is pivoting its economic strategy: expanding up the supply chain directly into American retail shelves while leveraging its resource wealth to fund conservation and diversification.
Speaking on the sidelines of New York Climate Week, Bogolo Joy Kenewendo, Botswana’s Minister of Minerals and Energy, highlighted the southern African nation’s plan to capitalize on a 0% import-tariff rate to the U.S. market. The duty exemption presents an opportunity for domestic jewelry manufacturers in Gaborone to bypass traditional middle-market hubs and establish a direct pipeline to American consumers.
shift The push into value-added manufacturing comes as the world’s top diamond producer by value navigates a broader structural Diamond revenues have long formed the bedrock of Botswana’s post-independence balance sheet, underwriting universal secondary education and tuition-free university funding. However, recent market volatility has underscored the vulnerabilities of a mono-sectoral economy.
Under the Botswana Economic Transformation Programme (BETP)—an initiative spearheaded directly by President Duma Boko and his vice president—the government is directing resources toward manufacturing, agriculture, and broader mining sectors to reduce its heavy reliance on rough diamond sales.
To support its luxury exports, Botswana is recalibrating its brand narrative around origin, environmental stewardship, and social impact. The country recently announced a five-year extension of the “Okavango Eternal” partnership alongside De Beers Group and the National Geographic Society. The initiative aims to protect the ecological integrity of the Okavango River Basin while tying diamond purchases to conservation efforts.
With De Beers currently facing an impending ownership change, officials remain optimistic that any capital restructuring could bring additional funds into Botswana to accelerate its domestic economic transition.
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