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De Beers 1Q Production +18%

Apr 24, 2014 4:18 AM   By Deena Taylor
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RAPAPORT... De Beers production rose 18 percent year on year to 7.532 million carats in the first quarter of 2014, Anglo American reported. The increase was largely due to easy annual comparisons since one year ago, production was impacted by plant maintenance at the Orapa mine in Botswana and the ongoing recovery of a slope failure at the Jwaneng mine.  This quarter, production at Orapa increased 54 percent year on year to 3.204 million carats, while production at Jwaneng rose 4 percent to 2.376 million carats.
 
Nonetheless, the company noted that mines across South Africa were disturbed this time by heavy rainfall, resulting in lower production compared with one year ago. However, the company was more prepared for the weather this year.  Production at the Venetia mine fell 17 percent to 531,000 carats, while production at the Kimberley mine dropped 28 percent to 159,000 carats. Production at the Voorspoed mine rose 72 percent to 242,000 carats. In total, output from De Beers Consolidated Mines in South Africa dropped 7 percent to 932,000 carats.

Production at De Beers Debswana joint venture in Botswana, which includes the Orapa, Letlhakane, Damtshaa and Jwaneng mines, increased 27 percent to 5.758 million carats, while production at Namdeb, which includes both terrestrial and marine mines in Namibia, rose 1 percent to 432,000 carats.

De Beers Canada production from the Snap Lake and Victor mines rose 3 percent to 409,000 carats.

The company maintained its guidance for the year and said it is on track to produce between 30 million and 32 million carats in 2014. 
Tags: Anglo American, DBCM, De Beers, Debswana, Deena Taylor, diamond, diamonds, Jwaneng, Namdeb, Orapa, Snap Lake, venetia
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