Rough diamond production reduced by five per cent to 8.7 million carats due to planned volume reductions in Botswana (Debswana) and South Africa (DBCM).
Botswana (Debswana) production declined by six per cent to 5.7 million carats due to the planned processing of lower grade material at Jwaneng. Production at Orapa2 remained in line with Q3 2017 at 2.6 million carats.
Namibia (Namdeb Holdings) production was flat at 0.5 million carats.
South Africa (DBCM) production decreased by 14 per cent to 1.3 million carats due to a planned shut down at Venetia to upgrade the processing plant ahead of the transition from open cut to underground operations.
Canada production increased by five per cent to 1.2 million carats, driven by higher grades at Victor, which is approaching the end of its life. Gahcho Kué production was in line with Q3 2017.
Rough sales volumes amounted to 5.0 million carats (4.6 million carats on a consolidated basis3) from two sales cycles in Q3 2018, compared with 6.9 million carats (6.5 million carats on a consolidated basis3) from two sales cycles in Q3 2017. Rough sales volumes were down as a result of Sightholders being given the opportunity during the seventh Sight of 2018 to re-phase the allocation of some smaller, lower value rough diamonds. Rough sales revenues were broadly in line with Q3 2017.
Full Year Guidance
Full year production guidance1 remains at 34-36 million carats but is expected to be at the higher end of the range.
1 De Beers Group 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 Group’s JV partners’ 50 per cent proportionate share of sales to entities outside De Beers Group from Diamond Trading Company Botswana and the Namibia Diamond Trading Company, which are included in total sales volume (100 per cent basis). 2017 includes pre-commercial production sales volumes from Gahcho Kué.