De Beers Set to Produce 50% Less Diamonds as Compared to 2008
Post Date: 26 Oct 2009 Viewed: 541
De Beers' diamond production was 40% lower in the third quarter ending September 2009, compared to last year’s third quarter, totaling 7.885 million carats of diamonds, Anglo American announced in its interim production report for the third quarter ended 30 September 2009.
However, compared to the previous quarter of this year, diamond output was 43% higher. Anglo said it expected full year production at 50% of 2008 levels.
For the year to date, production totaled 14.476 million carats of diamonds, representing a 61% decline compared to the same period last year.
“In the first quarter of 2009, in light of lower market demand, De Beers reduced production at all of its diamond mines through a combination of production holidays and shift reductions. Since the second quarter, production has restarted at Orapa and Jwaneng in Botswana and operations have resumed in South Africa”, Anglo said in a statement.
Production from the Canadian diamond operations was impacted in the third quarter of 2009 as a result of a production holiday taken in August, it said.