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De Beers’ rough diamonds production rise

De Beers’ rough diamond production for quarter three of 2017 increased 46 per cent to 9.2 million carats in line with the higher production forecast for 2017.

According to the company, the development reflects stable trading conditions as well as the contribution from the ramp-up of Gahcho Kué in Canada.

Namdeb Holdings’ production increased 12 per cent to 454,000 carats primarily as a result of higher mining rates from Debmarine Namibia’s Mafuta vessel.

In Botswana, the production increased 33 per cent to 6.1 million carats with Orapa’s production increased 60 per cent 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.

And Jwaneng’s production increased 23 per cent as a result of planned increases in feed to plant.

The De Beers Consolidated mines controlled from South Africa saw its production increased 41 per cent to 1.5 million carats largely as a result of higher grades at Venetia.

In De Beers Canada production increased five-fold to 1.1 million carats due to the ramp-up of Gahcho Kué, which reached nameplate capacity in Q2 2017.

As for sales De Beers’ consolidated rough diamond sales volumes in Q3 2017 were 6.5 million carats (6.9 million carats on a total 100 per cent basis) from two Sights, compared with 5.3 million carats (5.7 million carats on a total 100 per cent basis) from two Sights in Q3 2016.

“The increase was driven by a normalisation of demand for lower value goods in 2017,” the group said.

Meanwhile the group’s full year production guidance has been revised to 33 million carats, previously pegged at 31 – 33 million carats.

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