RAPAPORT... De Beers production rose 6 percent year on year to 8.193 million carats in the third quarter of 2014, Anglo American reported. The increase was largely due to strong output at the company's Jwaneng mine in Botswana where higher grade material was processed. During the quarter, Jwaneng's production grew 27 percent to 3.3 million carats.
The company noted that higher production at Jwaneng was partially offset by slightly lower production at its operations in Canada and South Africa, where the Voorspoed mine's production dropped 40 percent to 143,000 carats. Additionally, a planned plant upgrade at Venetia negatively impacted production volume during the period as output declined 13 percent to 776,000 carats. In total, production from De Beers Consolidated Mines in South Africa decreased 17 percent to 1.126 million carats.
Production at Debswana, a joint venture with Botswana, which included the Orapa, Letlhakane, Damtshaa and Jwaneng mines, rose 14 percent to 6.224 million carats.
Production at Namdeb, which includes both terrestrial and marine mining in Namibia, increased by 1 percent to 449,000 carats. The company noted that a 19-day strike at Namdeb Land impacted its overall output during the quarter.
De Beers Canada production from the Snap Lake and Victor mines declined 19 percent to 394,000 carats. The company also reported progress at its developing Gahcho Kué project, after attaining the necessary permits and licensing. First production at the mine is expected in the first half of 2016, with ramp up to full commercial production in 2017.
During the first nine months of 2014, De Beers production grew 10 percent to 24.2 million carats. De Beers expects to produce 32 million carats in 2014, which is at the top end of the company's earlier guidance of between 31 million to 32 million carats.
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