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De Beers 4Q Production -8%

Jan 28, 2015 2:34 AM   By Avi Krawitz
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RAPAPORT... De Beers rough diamond production fell 8 percent year on year to 8.366 million carats during the fourth quarter of 2014, Anglo American reported. Production for the full year 2014 rose 5 percent to 32.605 million carats.

The decline during the fourth quarter resulted from lower grades at the Orapa mine in Botswana and the Venetia mine in South Africa, as well as a mandatory safety stoppage at Snap Lake in Canada following a ground collapse.  These were partially offset by increased production at the Jwaneng mine in Botswana, which benefited from improved plant availability.

Production at Debswana, De Beers Botswana subsidiary, fell 6 percent to 5.989 million carats across the Orapa, Jwaneng, Damtshaa and Letlhakane mines. In Namibia, Namdeb’s production increased 7 percent to 496,000 carats, while De Beers Canada saw production decline by 18 percent to 479,000 carats from the Snap Lake and Victor mines. Production from De Beers Consolidated Mines (DBCM) in South Africa dropped 19 percent to 1.402 million carats from the Kimberley, Venetia and Voorspoed mines.

For the full year, Debswana’s production grew 7 percent to 24.237 million carats with solid increases at both Orapa and Jwaneng. Namdeb’s production rose 7 percent to 1.886 million carats, while production at De Beers Canada fell 6 percent to 1.848 million carats. Production at DBCM fell 2 percent to 4.634 million carats. 

Tags: Avi Krawitz, De Beers, Debswana, diamonds, Namdeb, Rapaport
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