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Anglo American Q4 production report; diamond production decreased by 16 per cent
Diamond production for the fourth quarter of 2015 decreased to 7.1 million carats, reflecting the decision to reduce production in response to trading conditions.
By: Diamond World News Service
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Jan 28 2016 3:47PM
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Reference: 12618  

DecreaseIncrease
Anglo American has published an update on its production performance for the fourth quarter of 2015.

At De Beers, diamond production for this period decreased 16 per cent to 7.1 million carats, reflecting the decision to reduce production in response to trading conditions.

Debswana

Production decreased 21 per cent to 4.7 million carats, as a result of a reduction in tonnes treated at Jwaneng and Orapa, consistent with the decision to reduce production in line with trading conditions. Damtshaa (a satellite of Orapa Mine) was placed on care and maintenance from 1st January 2016.

De Beers Consolidated Mines (South Africa)

Production increased marginally to 1.5 million carats. Venetia’s production declined, driven by a reduction in tonnes treated, consistent with the decision to reduce production in line with trading conditions. Voorspoed and Kimberley each produced more than in the comparative quarter, although this represents a small share of overall production.

On 21 January 2016, completion of the sale of Kimberley Mines to Ekapa Minerals was announced.

Namdeb Holdings

Production decreased 18 per cent to 0.4 million carats, due to mining being focused on lower grade areas, consistent with the decision to reduce production in line with trading conditions.

De Beers Canada

Production decreased by eight per cent to 0.4 million carats, due to marginally reduced activity at Victor and lower grade at Snap Lake. In December 2015, we announced that Snap Lake would be placed on care and maintenance, and this was implemented in December.

Quarterly production increased 17 per cent compared with the third quarter of 2015, due to improved grade at Orapa and as a result of an annual planned six day plant shutdown at Venetia in the third quarter.

Rough diamond sales volumes in the quarter were 3.6 million carats, compared with 3.0 million carats in the third quarter of 2015. This reflected the weaker trading conditions and higher pipeline stocks that impacted upon the midstream.

For the full year, volumes decreased by 39 per cent to 19.9 million carats (20.6 million carats on a 100 per cent basis including all sales by joint ventures).

The De Beers rough price index was on average eight per cent lower in 2015 than in 2014, with the index falling by 15 per cent over the course of the year. However, the average realised price at $207 per carat was five per cent higher than in 2014 due to a higher quality average product mix.

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