De Beers Q3 Rough Output +46% To 9.17m ct
De Beers’ rough diamond production increased by 46% to 9.17 million carats in the third quarter that ended September 30th 2017. The increase was in line with the higher production forecast for 2017, reflecting stable trading conditions as well as the contribution from the ramp-up of Gahcho Kué in Canada.
In the first nine months of 2017, the rough diamond output rose 29% to 25.3 million carats as against 19.5 million carats in the same period a year earlier.
At Debswana in Botswana, third quarter production increased by 33% to 6.05 million carats. The Orapa mine’s production increased by 60% to 2.4 million carats mainly driven by the ramp-up of Plant 1, which was previously on partial care and maintenance in response to trading conditions in late 2015. Jwaneng’s production increased by 23% to 3.4 million carats as a result of planned increases in feed to plant.
Namdeb Holdings in Namibia saw its rough production increase by 12% to 0.45 million carats primarily as a result of higher mining rates from Debmarine Namibia’s Mafuta vessel.
Production at DBCM in South Africa increased by 41% to 1.5 million carats largely as a result of higher grades at Venetia, where rough output rose 56% to 1.4 million carats.
Production in Canada increased nearly fivefold (398%) to 1.1 million carats due to the ramp-up of Gahcho Kué which reached nameplate capacity in the second quarter of 2017.
Consolidated rough diamond sales volumes in Q3 2017 were 6.5 million carats (6.9 million carats on a total 100% basis) from two sights, compared with 5.3 million carats (5.7 million carats on a total 100% basis) from two sights in Q3 2016. The increase was driven by a normalisation of demand for lower value goods in 2017.
De Beers revised its full-year production guidance to an estimated 33 million carats (previously 31–33 million carats).
The Kimberley mines were sold in January 2016, and Snap Lake was placed on extended care and maintenance from December 2015.
Aerial view of the De Beers Venetia mine where Q3 output rose 56% to 1.4 million carats.