De Beers Q1 Production +8% To 7.4M Carats; Sales 14.1M Carats

A Story by gemkonnect

De Beers said its rough diamond production in the first quarter of 2017 was 7.4 million carats, an increase of 8 per cent over the 6.9 million carats produced in the first quarter of 2016. De Beers at

De Beers said its rough diamond production in the first quarter of 2017 was 7.4 million carats, an increase of 8 per cent over the 6.9 million carats produced in the first quarter of 2016. De Beers attributed the increase to the contribution of Gahcho Kué in Canada, as well as increases in response to improved trading conditions.

Total rough diamond sales volumes for the period were 14.1 million carats (13.7 million carats on a consolidated basis) from three Sights, compared with 8.1 million carats (7.6 million carats on a consolidated basis) from two Sights in Q1 2016.

Consolidated sales volumes exclude De Beers’ JV partners’ 50 per cent proportionate share of sales to entities outside the De Beers Group from the Diamond Trading Company Botswana and the Namibia Diamond Trading Company, and includes pre-commercial production sales volumes from Gahcho Kué.

In addition, this increase reflected stronger demand in Sight 1 of 2017, particularly for lower value goods in stock at December 31, 2016.

Full year production guidance remains unchanged at 31 to 33 million carats, subject to trading conditions.

https://www.gemkonnect.com/news/de-beers-q1-production-8-74m-carats-sales-141m-carats