De Beers has raised its 2026 diamond production target to 25–28 million carats, up from its initial forecast of 21–26 million carats, despite the suspension of operations at its Venetia mine in South Africa.
Anglo American has named a consortium led by former De Beers chief executive Gareth Penny as preferred bidder for its 85% stake in De Beers, with chief executive Duncan Wanblad saying the long-running sale process is close to its end.
De Beers announced on 13 July 2026 that it would pause production at its Venetia mine in Limpopo for two years and begin Section 189 consultations over job losses.
Envusa Energy's 240MW Mooi Plaats solar plant has begun commercial operation, supplying wheeled renewable power to Anglo American-linked miners Kumba Iron Ore, De Beers and Valterra Platinum.
Anglo American has cut De Beers's carrying value to $2.3bn from $4.1bn and is now considering selling the business in separate parts to different buyers.
De Beers cut its 2026 production guidance to 21m-26m carats from 26m-29m carats, after 2025 output fell to 21.66m carats amid extended mine maintenance and weak prices.
DiamondsDe BeersThe diamond miner and marketer founded by Cecil Rhodes in 1888, now owned 85% by Anglo American and 15% by the government of Botswana. After years of weak demand and competition from lab-grown stones, Anglo is running a sale process for the business. It remains the world's leading diamond producer by value through its southern African joint ventures.
DiamondsDebswanaA 50:50 joint venture between the government of Botswana and De Beers, formed in 1969, and the world's leading diamond producer by value. Diamonds account for roughly a third of Botswana's fiscal revenue, so Debswana's output decisions carry national economic weight.DiamondsNamdebNamibian diamond mining company reformed in 1994 as an equal 50:50 joint venture between the Namibian government and De Beers. It mines onshore and near-shore deposits along the Atlantic coast around Oranjemund.
