Jan 29, 2015

De Beers’ Rough Diamond Production Up 5% in 2014

Rough diamond production at De Beers was up 5% during 2014, totalling 32.6 million carats as compared to 31.2 million carats a year earlier, according to the production update for the year released by mining giant Anglo American.  The statement from the company said that rise could be attributed to increased production from Debswana, with Jwaneng and Orapa both delivering higher output as a result of improved plant performance.

Overall production may have been higher, but lower production at Snap Lake as a result of a mandatory safety stoppage following a fall of ground in the quarter and lower grades at Orapa and Venetia, led to an 8% production decline during the last quarter of the year. Q4 2014 production stood at 8.4 mn carats as against the 9.1 mn carats mined during the year earlier period.

When compared to Q3 2014, diamond production was 2% higher in the last quarter of 2014 due primarily to higher output at Venetia (following plant maintenance), offset by lower grades at Jwaneng.

Anglo also reported a 34% year-on-year fall in overall exploration and evaluation expenditure across all mining sectors during Q4 2014. Of this evaluation expenditure dropped by 52%, and the company attributed a part of this fall to the De Beers business.

The statement noted that the results are unaudited and that the final audited figures would be released along with the company’s financial results on February 13, 2015.