Up by 28% in Q3 2021
Rough diamond production at the world’s leading diamond company, De Beers, increased by 28 percent to 9.2 million carats in the third quarter (Q3) of 2021 which ended 30 September 2021.
According to a report released recently by De Beers’ parent company, Anglo American, the increase in rough diamond production was in response to stronger demand for rough diamonds. “In Botswana, production increased by 33 percent to 6.4 million carats primarily driven by to the planned treatment of higher grade ore at Jwaneng, partly offset by lower production at Orapa due to the planned closure of Plant 1,” says the Anglo report.
It notes that in neighbouring Namibia, production increased by 65 percent to 0.4 million carats, reflecting the suspension of the marine fleet during Q3 2020 as part of the response to lower demand at that time. “South Africa production increased by 34 percent to 1.6 million carats due to planned treatment of higher grade ore from the final cut of the Venetia open pit and an improvement in plant performance,” the report says. “Production in Canada decreased by 13 percent to 0.8 million carats due to lower grade ore being processed.”
Anglo’s report says demand for rough diamonds continued to be robust, with positive midstream sentiment reflecting strong demand for polished diamond jewellery, particularly in the key markets of the US and China.
“Rough diamond sales totalled 7.8 million carats (7.0 million carats on a consolidated basis from two Sights, compared with 6.6 million carats (6.5 million carats on a consolidated basis from three Sights in Q3 2020, and 7.3 million carats (6.5 million carats on a consolidated basis) from two Sights in Q2 2021,” says Anglo.
De Beers Group is a multinational company that specialises in diamond exploration, diamond mining, diamond retail, diamond trading and industrial manufacturing. The company is active in open-pit and large scale alluvial, coastal and deep mining. It operates in 35 countries, including Botswana from where it generates approximately 75 percent of its earnings.
De Beers’ major shareholder is Anglo American, which owns 85 percent of the company. The remaining 15 percent is owned by the Government of Botswana.
De Beers Group and its partners produce around one third of the world’s rough diamonds by value. De Beers sells rough diamonds to global diamantaires through its diamond trading and auction businesses. It sells polished diamonds and diamond jewellery via its Forevermark and De Beers Jewellers businesses.