De Beers Q1 production down 7%
Mining giant De Beers Group produced fewer diamonds in the first quarter of 2021, owing to operational and pandemic-related challenges, the group announced recently.
Output was affected by excessive rainfall in southern Africa and a mine closure in Canada due to Covid-19, as well as planned maintenance in Namibia, De Beers said.
The miner however sold more diamonds during the period in review compared to last year, thanks to improved demand, which had reverted to pre-coronavirus levels. This reflected replenished goods in the midstream as well as renewed confidence in response to steadily rising consumer demand for diamond jewellery in the US and China in the second half of 2020.
Rough diamond sales totalled 13.5 million carats from three Sights in the first quarter, up from 8.9 million carats from two Sights in Q1 2020 and 6.9 million carats from two Sights in Q4 2020, revealed De Beers.
Full-year production guidance remains unchanged at 32 to 34 million carats.
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