DiamondBuzz
De Beers Rough Diamond Production Up 17 Year-on-Year
The Sequential Recovery Was Even More Striking, With Output Climbing 88% Quarter-on-Quarter From a Heavily Suppressed Q4 2025 Baseline
De Beers rough diamond production up 17% year-on-year to 7.1 million carats for the quarter ended March 31, 2026, is the kind of figure that reads well in a headline. But context transforms interpretation. The sequential recovery was even more striking, with output climbing 88% quarter-on-quarter from a heavily suppressed Q4 2025 baseline — a rebound that reflects operational factors rather than any meaningful surge in consumer demand for natural diamonds.
Both primary growth drivers were operationally predetermined rather than market-responsive. A planned ore release from a new area at the Gahcho Kué joint venture mine in Canada, and the continued processing of higher underground ore volumes at the Venetia mine in South Africa, together accounted for the majority of the year-on-year production increase. These are scheduled outcomes of capital programmes that were set in motion years earlier, not reactive decisions to chase rising diamond prices.
This distinction matters enormously for market interpretation. Production growth driven by mine transition schedules and ore release programmes carries a fundamentally different signal than growth driven by producers ramping up output in response to strengthening demand. In the current environment, De Beers is producing more simply because its mines are at a stage in their operational cycles where more ore is available — not because the market is calling for it.
Furthermore, according to De Beers’ official Q1 2026 production report, the critical distinction for Q1 2026 is that volume and value are moving in opposite directions. A 17% increase in production alongside a 19% decline in average realised price tells a more nuanced story than output data alone can convey. Production guidance for 2026 is unchanged at 21–26 million carats (100% basis). De Beers continues to monitor rough diamond trading conditions in order to align output with prevailing demand. Unit cost guidance for 2026 is unchanged at c.$80/carat
DiamondBuzz
Pandora Adds Carbon Footprint Labelling For LGDs
New Level Of Transparency Empowers Consumers To Compare Climate Impact Of Their Diamond Jewellery
For decades, diamonds have been graded by the traditional 4Cs: Cut, Colour, Clarity and Carat. Now Pandora is adding the 5th C, declaring the carbon footprint of every Pandora Lab-Grown Diamond as part of the product information on pandora.net alongside the traditional four grading criteria.
The carbon footprint covers all emissions from the diamond crafting process: from producing the raw materials used to grow the diamond all the way until it is cut and polished, ready to leave the diamond facility.
As an example, a one carat Pandora Lab-Grown Diamond has 12.58 kg of CO2e emissions. This is around 90% lower than a mined diamond of the same size.
By adding carbon footprint to the diamond conversation, Pandora gives customers an extra point of comparison and essential insight into the climate impact of their desired diamond jewellery.
CARBON FOOTPRINT COMPARABLE TO A PAIR OF JEANS
Lab-grown diamonds are chemically, optically, thermally and physically identical to mined diamonds.
Pandora stopped using mined diamonds in 2021 and is now only using lab-grown diamonds made with 100% renewable electricity and set in jewellery crafted from 100% recycled silver and gold.This significantly reduces the carbon footprint of the Pandora Lab-Grown Diamonds collection. For example, a 14k gold Pandora Infinite ring with a 1 carat lab-grown diamond has a comparable carbon footprint to a pair of jeans.
PANDORA TO SHARE FINDINGS
The carbon footprints of Pandora’s lab-grown diamonds have been calculated by external life-cycle assessment experts and published in a study verified by auditing firm EY. The study uses best practice methodology and is available on pandoragroup.com.
Adding a 5th C is a response to increasing consumer expectations to sustainability, and Pandora will share its methodology and findings with other jewellery makers to inspire greater transparency across the sector.
Pandora Lab-Grown Diamonds are currently available in the US, UK, Canada, Australia, New Zealand and Denmark with more countries to be added soon.
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