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Q3 2016 UPDATE

Diamond production for the third quarter of 2016 increased by four per cent to 6.3 million carats compared with the third quarter of 2015 when production was reduced in response to prevailing trading conditions.

Full year production guidance remains unchanged at 26-28 million carats, subject to trading conditions.

DEBSWANA (BOTSWANA)

Production increased by 12 per cent to 4.5 million carats with production at Jwaneng Mine up 47 per cent as a result of planned maintenance in the third quarter of 2015 being prioritised in light of trading conditions. This was partly offset by a planned 22 per cent decrease at Orapa Mine to align aggregate production to trading conditions.

DE BEERS CONSOLIDATED MINES (SOUTH AFRICA)

Production increased by six per cent to 1.1 million carats largely as a result of processing higher grades at Venetia Mine and increased throughput at Voorspoed Mine. This was partly offset by the early completion of the sale of Kimberley Mines in January 2016.

NAMDEB HOLDINGS (NAMIBIA)

Production decreased by 13 per cent to 405,000 carats with lower grades at Namdeb Land, and the Debmar Pacific vessel being in port for planned maintenance at Debmarine Namibia.

DE BEERS CANADA

Production decreased by 48 per cent to 225,000 carats due to Snap Lake Mine being placed on care and maintenance in December 2015. This was partially offset by first production at Gahcho Kué Mine. Gahcho Kué was officially opened on 20 September 2016 and ramp-up is progressing well.


Consolidated rough diamond sales increased 77 per cent to 5.3 million carats. This increase reflected improved trading conditions from those experienced in the third quarter of 2015, when higher pipeline stock impacted midstream demand.