De Beers Group’s Q3 production report for 2024 shows diamond output declined 25% YoY to 5.6 million carats, down from 7.4 million carats in Q3 2023. Due to weak demand and high midstream inventory, the company is considering further cuts to natural diamond production. The Forevermark brand will focus solely on the Indian market, discontinuing rough diamond sales from January 2026. Despite maintaining its 2024 production target of 23 million to 26 million carats, ongoing market challenges have prompted parent company Anglo American PLC to plan the sale of De Beers Group, with CEO Duncan Wanblad aiming to finalize a deal with potential buyers by early next year.