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De Beers Diamond Production +24% in 4Q
Output Jumps With Jwaneng Resumption
Jan 25, 2013 6:19 AM
By Dilipp S Nag
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RAPAPORT... De Beers diamond production rose 24 percent year on year to 8.051 million carats during the fourth quarter that ended on December 31, 2012, dramatically improved by the resumption of operations at Jwaneng mine in Botswana. A slope failure incident in June at the Jwaneng mine disrupted output, but full operations resumed in September.
Anglo American, which owns an 85 percent stake in De Beers, reported that production from De Beers Consolidated Mines in South Africa increased by 69 percent year on year to 1.547 million carats during the fourth quarter. This helped to address shortfalls following the Jwaneng suspension, it noted.
However, De Beers production for 2012 declined 11 percent year on year to 27.875 million carats.
Anglo stated that De Beers operations continued to focus on waste stripping and maintenance activities initiated in the fourth quarter of 2011, in response to softer global demand for diamonds throughout the year.
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Tags:
Anglo, Anglo American, Botswana, De Beers, diamond, Dilipp S Nag, Jwaneng
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