Anglo American Reports De Beers Sales Up On Year In First Quarter

Rough diamond sales in Q1 2017 were 14.1 million carats, Anglo American reported.

There were three Sights in the quarter this year compared with two in the year-earlier Sight.

"This increase reflected stronger demand in Sight 1 2017, particularly for lower value goods in stock at December 31, 2016," reported thediversified miner which owns 85 percent of De Beers.

De Beers' rough diamond production increased by 8 percent to 7.4 million carats in the first quarter compared with Q1 2016.

"This reflected the contribution of Gahcho Kué in Canada, as well as increases in response to improved trading conditions."

Debswana’s (Botswana) production decreased marginally to 5.2 million carats. Jwaneng’s, production decreased by 8 percent due to expected lower grades, partly offset by Orapa, which increased by 5 percent due to expected higher grades, the report said.

Meanwhile, production at Namdeb Holdings (Namibia) increased by 6 percent to 500,000 carats due to marginally higher grades at Namdeb.

In South Africa, production increased by 19 percent to 1.1 million carats largely as a result of higher grades at the Venetia mine.

Production in Canada increased by 290 percent to 600,000 carats due to the contribution of Gahcho Kué, which reached commercial production on March 2.

Anglo added that full year production guidance remains unchanged at 31 million carats to 33 million carats, subject to trading conditions.

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