DE BEERS' Q4 ROUGH DIAMOND PRODUCTION GROWS 13%
Post Date: 07 Feb 2014 Viewed: 358
Anglo American reports that De Beers increased its rough diamond production by 13 percent to 9.132 million carats during the fourth quarter ended December 31, 2013. Compared to the third quarter of the year, production, which totaled 7.732 million carats, increased 18 percent.
Growth in the fourth quarter was mainly attributable to Debswana operations, with the Jwaneng mine increasing output following its recovery after the slope failure in June 2012, together with higher grades at both the Orapa mine. Production also increased in South Africa and Canada, on account of improved grades at the Venetia mine and at Snap Lake.
Production at Debswana during the fourth quarter totaled 6.357 million carats, signifying increases of 17 percent compared to the prior quarter and 15 percent year over year. The Orapa One plant resumed operations following unplanned maintenance in the third quarter.
Production at De Beers Consolidated Mines (DBCM) in South Africa totaled 1.728 million carats, up 28 percent compared to the third quarter of 2013 and 12 percent year over year. The Venetia mine improved significantly, up 57 percent compared to the third quarter, on account of higher volumes and grades following the recovery from pit flooding earlier in the year.
Operations for De Beers Canada also showed a 20 percent increase in production over the third quarter, and a 17 percent increase in production year over year, largely due to improved throughput and higher grades at the Snap Lake mine. Production in the fourth quarter totaled 582,000 carats.
At Namdeb Holdings in Namibia, output of 465,000 carats grew 4 percent quarter to quarter but fell 1 percent year over year.
De Beers' rough diamond production for the full year totaled 31.159 million carats, up 12 percent year over year. Debswana produced 22.707 million carats in 2013, up 12 percent year over year. DBCM produced 4.724 million carats, up 7 percent compared to 2012. De Beers Canada produced 1.966 million carats last year, up 26 percent. And Namdeb Holdings produced 1.762 million carats, up 6 percent.