De Beers lowers production guidance for 2021

De Beers has lowered its rough production guidance to between 32 and 34 million carats from the previous 33 to 35 million carats, according to its parent company Anglo American.
It said that downward revision of the production guidance was subject to trading conditions, due to ongoing operational challenges and lower expected production from the final cut at Venetia.
De Beers produced 25,1 million carats in 2020, down 18% from about 30,8 million carats in 2019.
The diamond giant reduced production last year in response to the lower demand for rough diamonds caused by the COVID-19 pandemic.
It also temporarily suspended diamond sales around March last year when governments closed their borders and introduced strict lockdowns to curb the spread of the coronavirus.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished