|Diamond mining company De Beers reports diamond production for the third quarter of 2017 increased by 46 percent to 9.2 million carats compared with the third quarter of 2016. This is in line with the higher production forecast for 2017, says De Beers, reflecting stable trading conditions, as well as the contribution from the ramp-up of the Gahcho Kué mine in Canada.
The company notes that full year production guidance for 2017 has been revised to approximately 33 million carats (from the previous guidance of 31-33 million carats).
Giving a breakdown of the production, De Beers reports:
% change Y-o-Y
6.1 million carats
De Beers Consolidated Mines (S. Africa)
Namdeb Holdings (Namibia)
De Beers Canada
1.1 million carats
* Five-fold increase in production compared with Q3 2016 due to the ramp-up of Gahcho Kué, which reached nameplate capacity in Q2 2017.
SALESConsolidated rough diamond sales for Q3 2017 are reported at 6.5 million carats, from two Sights, an increase of 22.6 percent compared with Q3 2016, which De Beers says was driven by a normalisation of demand for lower value goods in 2017.