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De Beers 2Q Production +7%

Jul 17, 2014 4:45 AM   By Deena Taylor
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RAPAPORT... De Beers production rose 7 percent year on year to 8.515 million carats in the second quarter of 2014, Anglo American reported. The increase was largely due to higher output at the company's Venetia mine, following pit flooding in 2013. During the quarter, Venetia's production more than tripled to 834,000 carats.

The company noted that while its South African mines were affected by high seasonal rainfall during the first quarter, they recovered during the second quarter supported by initiatives to cope with the wet conditions. Production at the Kimberley mine dropped 31 percent to 154,000 carats, while production at the Voorspoed mine rose 18 percent to 186,000 carats. In total, output from De Beers Consolidated Mines in South Africa grew 84 percent to 1.174 million carats.

Production at De Beers Debswana joint venture in Botswana, which includes the Orapa, Letlhakane, Damtshaa and Jwaneng mines, fell 2 percent to 6.266 million carats. The decrease was due to lower-grades mined at the Jwaneng mine following the clean-up of the slope failure in 2013. As a result, Jwaneng production fell 13 percent to 2.532 million carats.

Production at Namdeb, which includes both terrestrial and marine mining in Namibia, rose 20 percent to 509,000 carats.

De Beers Canada production from the Snap Lake and Victor mines rose 13 percent to 566,000 carats.

De Beers expects to produce between 30 million and 32 million carats in 2014. 
Tags: Anglo American, DBCM, De Beers, Debswana, Deena Taylor, diamonds, Jwaneng, kimberley, Namdeb, venetia, Voorspoed
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