Almas Resources: Emerging Diamond Producer

De Beers Output On The Rise

十二月 12, 2018

De Beers has increased its production forecasts for 2018 and the coming years, as the miner anticipates solid consumer demand, wrote Rapaport.

The output for the current year is expected to reach 35 million to 36 million carats, the highest level since 2008, whereas it recovered 33.5 million carats in 2017, parent company Anglo American said.

Recovery levels will drop to between 31 million and 33 million carats in 2019 due to the Venetia mine in South Africa shifting from an open-pit to an underground operation, and the closure of the Victor mine in Canada. However, it will then grow to between 33 million and 35 million carats in 2020, rising to a range of 35 million to 37 million carats in 2021.

The increases are mainly due to the progress De Beers anticipates at Venetia during the asset’s transition, as well as greater output at its Botswana mines, a company spokesperson said.

De Beers’ production increased 3% year on year to 26.2 million carats in the first nine months of 2018, while its sales volume fell 11% to 23.9 million carats for the period.

Source: Rapaport

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