Rough diamond revenue declined by 13 per cent, reaching $USD1.7 billion ($AUD2.64 billion), for the six months ending 30 June. The company has maintained its production forecast of between 20 and 23 million carats for the year.
"Rough diamond trading conditions remained challenging in the first half of 2025 as both the diamond midstream and downstream adopted a cautious approach to restocking amid broader market uncertainty, coupled with continued surplus polished inventory in the midstream," the report reveals.
"While a stabilisation of polished diamond prices in the first quarter of the year temporarily supported an improvement in industry sentiment, polished trading slowed again in the second quarter amid increased uncertainty surrounding US tariffs announced in April.
"Although wholesale rough and polished diamond trading conditions remained difficult, consumer demand for diamond jewellery was broadly stable in the first half of the year. Demand in the US held steady year-to-date, though the full impact of the tariffs has yet to be seen."
It’s been an eventful year for the company, joining the Luanda Accord – the formation of a global natural diamond marketing fund and terminating Lightbox Jewelry, the lab-created diamond jewellery brand.
More reading
Massive boost coming for global natural diamond marketing
Playing both sides: Diamond industry reacts to Lightbox closure
Lightbox: Controversial lab-created diamond brand shutting down
Welcome news for diamond industry as De Beers and Botswana reach agreement
What is the world’s largest diamond company worth?
De Beers confirms jewellery rebrand, CEO resignation