De Beers announced that rough diamond production for the third quarter of 2017 was 9.2 million carats, a 46 per cent increase over the 6.3 million carats produced in Q3 2016.
Consolidated rough diamond sales volumes in Q3 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 company said the increase was driven by a normalisation of demand for lower value goods in 2017.
Full-year guidance has now been increased to approximately 33 million carats, up from the previous 31-33 million-carat projection.
The company said the production results were in line with the higher production forecast for 2017, reflecting stable trading conditions as well as the contribution from the ramp-up of Gahcho Kué in Canada.
Going into specifics, the company said that in Botswana, production had increased 33 per cent to 6.1 million carats. 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. Jwaneng’s production increased 23 per cent as a result of planned increases in feed to plant.
Namibian production increased 12 per cent to 454,000 carats, primarily as a result of higher mining rates from Debmarine Namibia’s Mafuta vessel.
In South Africa, production increased 41 per cent to 1.5 million carats, largely as a result of higher grades at Venetia.
In Canada, production increased five-fold to 1.1 million carats due to the ramp-up of Gahcho Kué, which reached nameplate capacity in Q2 of this year.
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