De Beers’ rough diamond production for the fourth quarter of 2019 decreased by 15% to 7.8-million carats, driven by lower production in South Africa and Botswana.
While trading conditions had improved compared with the previous quarter, production was reduced in response to softer rough diamond demand conditions experienced throughout the year.
In Botswana, production decreased by 7% to 5.9-million carats.
Output at the Orapa mine decreased by 29% as a result of the delay in an infrastructure project and expected lower grades. This was partially offset by a 21% increase at Jwaneng, driven by planned increases in both tonnes treated and grade.
In Namibia, production decreased by 10% to 500 000 ct, driven by Debmarine Namibia, where production decreased by 9% to 400 000 ct owing to routine vessel maintenance.
In South Africa, production decreased by 65% to 400 000 ct owing to lower volumes of ore mined at Venetia as it approaches the transition from openpit to underground. In addition, production at the Voorspoed mine ended in the fourth quarter of 2018.
In Canada, production decreased by 3% to one-million carats, primarily as a result of the closure of the Victor mine, which reached the end of its life in the second quarter of 2019.
Production at the joint venture Gahcho Kué mine increased by 28% to one-million carats owing to strong plant performance.
De Beers’ production guidance for this year has been set at 32-million to 34-million carats, subject to trading conditions. The company is expecting an improvement in trading conditions compared with 2019, as well as an increase in production from Venetia.