De Beers Q3 Rough Out­put +46% To 9.17m ct

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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.

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