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De Beers 2Q Production +10%

Jul 18, 2013 2:54 AM   By Deena Taylor
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RAPAPORT... Anglo American reported that its second quarter diamond production from De Beers grew 10 percent year on year to 7.931 million carats. The increase reflected improved grades at the Orapa and Jwaneng mines, offset by lower recovery from the Venetia mine following flooding in January 2013.

Production at the Venetia mine in South Africa decreased 60 percent with shortfalls alleviated through processing ore stockpiles. The company expects to restore full operations during the second half of the year.

While the Jwaneng mine in Botswana is still recovering from the impact of a slope failure incident that occurred in June 2012, this issue is expected to be resolved during the third quarter, Anglo American stated.

The report did not provide separate production data for each mine focusing instead on De Beers various mining units - its Debswana joint venture in Botswana, Namdeb in Namibia, De Beers Consolidated Mines (DBCM) in South Africa, and De Beers Canada.

Debswana's production grew 19 percent to 6.369 million carats during the quarter, while its Namdeb production fell 8 percent to 423,000 carats. DBCM production fell 34 percent to 639,000 carats during the quarter and De Beers Canada production rose 6 percent to 500,000 carats.

During the first half of 2013, De Beers group production rose 6 percent year on year to 14.295 million carats. Debswana's production rose 6 percent to 10.904 million carats, while production at Namdeb increased 10 percent to 852,000 carats. Production at DBCM remained flat during the first six months of the year at 1.641 million carats, while production at De Beers Canada jumped 22 percent to 898,000 carats.
Tags: Anglo American, De Beers, De Beers Consolidated Mines, Debswana, Deena Taylor, diamond production, Jwaneng, Namdeb, Orapa, venetia
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