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De Beers Reduces 1Q Output by 10%
Apr 21, 2016 9:25 AM
By Rapaport News
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RAPAPORT... De Beers diamond production slid 10 percent to 6.9 million
carats in the first quarter as the miner reduced output in response to market
conditions.
Production from Debswana, a joint venture with the Botswanan
government, fell 5 percent to 5.3 million carats in the three months to March
31, De Beers said. Output from the Orapa project in the African country slumped
23 percent, outweighing a 15-percent increase in production at the Jwaneng mine.
Output from Namdeb and De Beers Consolidated Mines, the
company’s joint ventures in Namibia and South Africa respectively, also declined.
Gem recovery from De Beers Canada dived 68 percent as the Snap Lake mine was
put on care and maintenance in December 2015.
De Beers also reported consolidated sales by volume dropped
10 percent to 7.6 million carats, reflecting one fewer sight in the quarter compared
with a year ago. Sequentially, the quarterly sales rose from 3.6 million carats
as trading conditions in the January-March period were better, according to the
miner.
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Tags:
De Beers, De Beers Canada, De Beers Consolidated Mines, Debswana, Jwaneng, mining, Namdeb, Orapa, Rapaport News, Rough Production
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