De Beers  posts $511 mn loss amid weak Chinese demand and U.S. tariff pressures

De Beers, Africa’s largest diamond miner, posted a sharply wider $511 million loss in 2025 as weak Chinese demand, U.S. tariff pressures and softer global prices weighed on its worldwide operations, including key mines in Botswana, Namibia and South Africa.

De Beers reported a significantly larger loss in 2025, with an underlying EBITDA loss of $511 million due to weak prices, softer Chinese demand, and competition from lab-grown diamonds. Total rough diamond production fell by 12% to 21.7 million carats as the company adjusted to lower demand and higher inventories.

Core operations in Botswana, South Africa, and Namibia faced pressure from subdued demand and implemented cautious production strategies. Global diamond sector challenges were worsened by US tariffs on India and changing consumer preferences, prompting De Beers to cut costs and capital expenditure.