De Beers’ production in Q4 drops 8%

Anglo American noted that diamond production at De Beers, in the fourth quarter 2014 ending December 31, 2014, dropped 8 percent to 8.4 million carats. It attributes this to lower grades at Orapa and Venetia, as well as lower production at Snap Lake as a result of a mandatory safety stoppage following a fall of ground in the quarter.

These production decreases were partially offset by increased production at Jwaneng, which benefited from improved plant availability. Diamond production was 2 percent higher than Q3 2014 due primarily to higher output at Venetia (following plant maintenance), offset by lower grades at Jwaneng.

Production for the year to December 2014 was 32.6 million carats, rising 5 percent on y-o-y basis, and attributed to increased production from Debswana, with Jwaneng and Orapa both delivering higher output as a result of improved plant performance.

The production levels at Debswana were lower by 6 percent (on y-o-y basis) amounting to 5.989 million carats, in the said fourth quarter. For the entire year 2014, the production levels rose 7 percent (on y-o- y basis) to 24.237 million carats. Namdeb in Namibia delievered production increase of 7 percent to 496,000 carats in the said Q4 and totaled 1.866 million carats in 2014, rising also by 7 percent in comparison to 2013. The De Beers Consolidated Mining delivered production dropping 19 percent drop (on y-o-y basis) to 1.402 million carats in Q4 2014 and dropped 2 percent to 4.634 million carats in 2014. De Beers Canada, also recorded a drop in production in Q4 in comparison to the same quarter last year, dropping 18 percent 479,000 carats. For the entire year 2014, its production decreased 6 percent to 1.848 million carats, in comparison to 2013.