23 October 2018
Rough diamond production for Q3 2018 decreased five per cent to 8.7 million carats due to planned volume reductions in Botswana (Debswana) and South Africa (DBCM).
Botswana (Debswana)
Production declined six per cent to 5.7 million carats due to the planned processing of lower grade material at Jwaneng. Production at Orapa2 remained in line with Q3 2017 at 2.6 million carats.
Namibia (Namdeb Holdings)
Production was flat at 460,000 carats.
South Africa (De Beers Consolidated Mines)
Production decreased 14 per cent to 1.3 million carats due to a planned shut down at Venetia to upgrade the processing plant ahead of the transition from open cut to underground operations.
Canada
Production increased five per cent to 1.2 million carats, driven by higher grades at Victor, which is approaching the end of its life. Gahcho Kué production was in line with Q3 2017.
Sales
Rough sales volumes were 5.0 million carats (4.6 million carats on a consolidated basis3) from two sales cycles in Q3 2018, compared with 6.9 million carats (6.5 million carats on a consolidated basis3) from two sales cycles in Q3 2017. Rough sales volumes were down as a result of Sightholders being given the opportunity during the seventh Sight of 2018 to re-phase the allocation of some smaller, lower value rough diamonds. Rough sales revenues were broadly in line with Q3 2017.
Full year guindance
Full year production guidance1 remains at 34 to 36 million carats but is expected to be at the higher end of the range.