De Beers’ rough diamond production rose 134% to 8.2 million carats in the second quarter of 2021, reflecting planned higher production to meet stronger demand for rough diamonds, as well as the impact of Covid-19 lockdowns across southern Africa.
Anglo American, which has an 85% stake in the diamond group, said production in Botswana jumped by 214% to 5.7 million carats.
De Beers’ South Africa production also increased by 130% to 1.3 million carats, due to planned treatment of higher grade ore from the final cut of the Venetia open pit.
Diamond production in Canada leapt 14% to 900 000 carats.
However, production in Namibia fell by 6% to 300 000 carats, mainly due to planned maintenance of the Mafuta vessel that was completed in the quarter and another vessel remaining demobilised.
Anglo said production guidance for De Beers this year is tightened to 32-33 million carats from the previous 32-34 million carats, subject to trading conditions and the extent of any further Covid-19 related disruptions.
Meanwhile, De Beers’ rough diamond sales totalled 7.3 million carats from two Sights, reflecting the impact of the reduced Indian midstream capacity on the fourth sight, compared with 300 000 carats, a year earlier and 13.5 million carats from three sights in the first quarter of 2021.
Anglo also said that the first half consolidated average realised price increased by 13% to $135 per carat from $119 per carat the previous year earlier driven by an increased proportion of higher-value rough diamonds sold.
“While the average price index remained broadly flat, the closing index increased by 14% compared to the start of 2021, reflecting tightness in inventories across the diamond value chain as well as positive consumer demand for polished diamonds,” it said.
Anglo said consumer demand for polished diamonds continued to recover, leading to strong demand for rough diamonds from midstream cutting and polishing centres, despite the impact on capacity from the severe Covid-19 wave in India during April and May.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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