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PRODUCTION REPORT FOR THE FOURTH QUARTER OF 2016

Diamonds1

Q4 2016  Q4 2015 Q4 2016
vs.
Q4 2015
Q3 2016 Q4 2016
vs.
Q3 2016

2016

2015

2016
vs.
2015

Debswana

000 carats

5,440

4,749

15%

4,549

20%

20,501

20,368

1%

Namdeb Holdings

000 carats

428

405

6%

405

6%

1,573

1,764

(11)%

DBCM

000 carats

1,387

1,459

(5)%

1,094

27%

4,234

4,673

(9)%

De Beers Canada

000 carats

497

439

13%

225

121%

1,031

1,887

(45)%

Total carats recovered

000 carats

7,752

7,052

10%

6,273

24%

27,339

28,692

(5)%

Rough diamond production increased by 10 per cent to 7.8 million carats compared with Q4 2015 when production was reduced in response to trading conditions. The increase also reflected the ramp-up of Gahcho Kué. 

Debswana’s (Botswana) production increased by 15 per cent to 5.4 million carats. At Jwaneng, production increased 40 per cent, partly offset by Orapa, which decreased by six per cent, and Damtshaa (a satellite operation of Orapa), which was placed on care and maintenance from 1 January 2016.

Production at Namdeb Holdings (Namibia) increased by six per cent to 0.4 million carats due to increased material processed by the Debmarine Namibia fleet.

In DBCM (South Africa), production decreased marginally to 1.4 million carats, mainly due to the sale of Kimberley Mines in January 2016, partly offset by an increase of 18 per cent at Venetia due to the processing of higher grades. 

Production in Canada increased by 13 per cent to 0.5 million carats, driven by the ramp-up at Gahcho Kué. This was partially offset by Snap Lake being placed on care and maintenance in December 2015. The ramp-up of Gahcho Kué continues to progress, with commercial production expected to be reached during Q1 2017.

Rough diamond production increased by 24 per cent compared with Q3 2016 as a result of higher production at Orapa, higher grades at Venetia and the ramp-up of Gahcho Kué.

Total rough diamond sales volumes in Q4 2016 compared with Q4 2015 more than doubled to 8.0 million carats (7.5 million carats on a consolidated basis2). 

For the full year, total rough diamond sales volumes increased by 55 per cent to 32.0 million carats (30.0 million carats on a consolidated basis2). The increases reflect the improved trading conditions from those experienced in H2 2015.

For the full year, the average realised price of $187 per carat was 10% lower than in 2015, reflecting the lower average rough price index, which was down 13 per cent, partially offset by a stronger sales mix.

(1) De Beers production is on a 100 per cent basis, except for the Gahcho Kué joint venture which is on an attributable 51 per cent basis.
(2) Consolidated sales volumes exclude De Beers’ JV partners’ 50% proportionate share of sales to entities outside the De Beers Group of Companies from the Diamond Trading Company Botswana (DTCB) and the Namibia Diamond Trading Company (NDTC).

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