Rough diamond production for Q1 2018 increased 15 per cent to 8.5 million carats, reflecting the ramp-up of production from Gahcho Kué in Canada, which reached nameplate capacity in Q2 2017, and increased production from Orapa in Botswana in response to the sustained healthy trading conditions.
Production increased 12 per cent to 5.8 million carats. Orapa2 production increased 26 per cent to 2.8 million carats mainly due to an increase in tonnes treated in response to sustained healthy trading conditions.
Production increased 12 per cent to 528,000 carats as a result of accessing consistently higher grades at the land-based operations.
Production was in line with Q1 2017 at 1.1 million carats.
Production increased 69 per cent to 1.1 million carats due to the ramp-up of Gahcho Kué, which reached nameplate capacity in Q2 2017.
Total rough diamond sales volumes in Q1 2018 were 8.8 million carats (8.4 million carats on a consolidated basis3) from two Sights, compared with 14.1 million carats (13.7 million carats on a consolidated basis3) from three Sights in Q1 2017.
In addition to the difference in the number of Sights over the period, Sight 1 2017 also saw an unusually strong demand for lower value goods following the effects of Indian demonetisation in Q4 2016, leading to higher than normal sales volume.
Full year production guidance1 remains unchanged at 34 to 36 million carats, subject to trading conditions.
|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||Orapa constitutes the Orapa Regime, which includes Orapa, Letlhakane and Damtshaa.|
|3||Consolidated sales volumes exclude De Beers’ JV partners’ 50 per cent proportionate share of sales to entities outside De Beers from Diamond Trading Company Botswana and Namibia Diamond Trading Company, which are included in total sales volume (100 per cent basis). Both measures in Q1 2017 include pre-commercial production sales volumes from Gahcho Kué. Q1 2017 consolidated sales volumes excluding pre-commercial production sales volumes from Gahcho Kué were 13.4 million carats.|