Back to all news
Print this page

PRODUCTION REPORT FOR THE SECOND QUARTER OF 2016

Diamonds (100% basis) Q2 2016 Q2 2015 Q2 2016
vs.
Q2 2015
Q1 2016 Q2 2016
vs.
Q1 2016
H1 2016 H1 2015 H1 2016
vs.
H1 2015

Diamonds

000 carats

6,448

7,963

(19)%

6,866

(6)%

13,314

15,628

(15)%

Diamond production decreased by 19 per cent to 6.4 million carats, reflecting the decision to reduce production in response to prevailing trading conditions in H2 2015.

At Debswana (Botswana), production decreased by 12 per cent to 5.2 million carats with Orapa reduced by 27% and the placing of Damtshaa on care and maintenance from 1 January 2016.

Production at DBCM (South Africa) decreased by 26 per cent to 0.8 million carats due mainly to the completion of the sale of Kimberley Mines in January 2016.

Production at Namdeb Holdings (Namibia) decreased by 31 per cent to 0.3 million carats with reduced production at Debmarine Namibia because of extended planned in-port maintenance of the Mafuta vessel and lower grades at Namdeb’s Land operations.

Production in Canada decreased by 71 per cent to 0.1 million carats due to Snap Lake being placed on care and maintenance in December 2015.  Production at Victor was in line with Q2 2015.

Consolidated rough diamond sales in Q2 2016 were 9.6 million carats (from three Sights) compared with 4.9 million carats (from two Sights) in Q2 2015. Apart from the additional Sight in 2016, this increase reflected higher midstream restocking from lower inventory levels in 2015. Consolidated sales volumes for H1 2016 were 17.2 million carats, compared with 13.3 million carats for H1 2015 (from five Sights, in each case).

The De Beers rough price index was on average 16 per cent lower in H1 2016 compared with H1 2015. The average realised price at $177/ct was 14 per cent lower than H1 2015.

Full Year Guidance

Full year production guidance (on a 100 per cent basis) remains unchanged at 26–28 million carats, subject to trading conditions.

Comments

Add a comment
loading..