De Beers Q4 2015 Production -16%‎

January 28, 2016

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January 28, 16 by David Brummer

(IDEX Online News) – De Beers has announced that fourth quarter production fell to 7.1 million carats – a 16-percent year-on-year decrease from the same period in 2014.

 

At De Beers’ largest mining unit, Debswana, production decreased 21 percent to 4.7 million carats in the quarter, down from 6 million carats in the fourth quarter of 2014. The company explained that the fall was due to the reduced production output, in line with trading conditions, at Jwaneng and Orapa.

 

In South Africa, output increased slightly to 1.5 million carats compared to 1.4 million carats over the same period in 2014. Venetia production declined, but Voorspoed and Kimberley, the sale of which to Ekapa Minerals was recently confirmed, produced more than in the corresponding quarter a year previously.

 

De Beers’ Namibian unit produced 405,000 carats compared to 496,000 in the same quarter in the prior year – which represents an 18-percent reduction.

 

Canadian output declined to 439,000 – a drop of 8 percent from 479,000 carats a year previously.

 

De Beers’ production for 2015 decreased 39 percent to 19.9 million carats.

 

Rough diamond sales volume increased from 3 million carats in the third quarter of 2015 to 3.6 million carats in the fourth. According to the company, the rough price index was 8 percentage points lower in 2015 compared to 2014, with index falling 15 percent over the course of the year. With an improved quality average product mix, the average realized price climbed 5 percent to $207 per carat.

Category: Diamond