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De Beers Sales Volume Jumps After Market Recovery

Oct 25, 2016 5:19 AM   By Rapaport News
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RAPAPORT...
De Beers total rough diamond sales grew 77 percent by volume in the third quarter, reflecting improved trading conditions compared with a slump in demand a year ago.

The miner said it sold 5.3 million carats in the three months that ended September 30, versus 3 million carats in the same period a year ago when higher stock levels lowered demand from manufacturers and traders.

Production increased 4 percent to 6.3 million carats – the improvement comes after the miner had cut output last year in response to weaker trading conditions.

The largest production increase was in De Beers Botswanan joint venture, Debswana, where output jumped 12 percent to 4.5 million carats. Production at the Jwaneng mine leapt 47 percent to 2.8 million because of planned maintenance a year ago.
Tags: Botswana, De Beers, Debswana, Jwaneng, mining, Rapaport News, Rough diamond sales, Rough Production, rough sales
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