De Beers cannot sell off a $2 billion diamond reserve.

December 25th. /MEDIA TALK/. The world's largest diamond producer, De Beers Group, has faced difficulties selling precious stones. To date, the company's reserves have reached a volume of 2 billion US dollars. This is a record figure since the economic crisis in 2008. According to the company, this number of unsold diamonds remained for a significant part of 2024.


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Among the factors contributing to the decline in sales are the decline in consumer interest in China, increased pressure from competitors specializing in the production of synthetic diamonds, as well as the impact of the pandemic, which has reduced the number of weddings.

A prolonged decline in demand forced De Beers to reduce production by about 20% compared to the previous year and lower prices for precious stones sold at auctions. According to the forecasts of the company's management, global demand should gradually stabilize in 2025.

Earlier, we wrote that according to the results of 2024, the volume of diamond production by the Russian company ALROSA will reach 33 million carats, which is slightly lower than in 2023.