De Beers diamond production fell 16 percent year on year to 6.208 million carats in the first quarter of 2012, parent company Anglo American reported Thursday cited by Rapaport. Output declined by 4 percent when compared to the fourth quarter of 2011.
Anglo explained that production decreased mainly reflecting De Beers planned focus on maintenance and waste stripping activities. The company added that De Beers sale of its Finsch mine during the year also reduced production compared to the first quarter of 2011.
Anglo currently owns 40 percent of De Beers but has agreed to buy the 45 percent stake of the company held by the Oppenheimer family. Anglo reported that all regulatory and competition approvals for the acquisition have been achieved, with the exception of the South African Diamonds and Precious Metals Regulator and the South African Minister of Mineral Resources. The acquisition is expected to complete in the second half of 2012.
The Botswana government owns the remaining 15 percent in De Beers.
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