De Beers diamond output flat in Q1
Rough diamond production at De Beers was unchanged at 8.9 million carats in the first quarter of 2023 amid Venetia mine’s transition to underground operations this year.
According to Anglo American, which owns 85 per cent of De Beers Group, the planned treatment of higher-grade ore and strong operational performance across most assets was offset by the completion of Venetia’s open pit in December 2022 as it shifts to underground mining in 2023.
Meanwhile, output in Botswana and Nigeria rose 12 per cent to 6.9 million carats and 37 per cent to 0.6 million carats, respectively. South Africa production was down 56 per cent to 0.7 million carats while production in Canada increased by 11 per cent to 0.7 million carats.
Diamond sales were in line with expectations as Sightholders were more cautious in planning their 2023 allocation schedule, Anglo American reported. Rough diamond sales totalled 9.7 million carats from three Sights as of end March 2023, compared with 7.9 million carats from two Sights in Q1 2022, and 7.3 million carats from two Sights in Q4 2022.
Production guidance for 2023 is unchanged at 30 million carats to 33 million carats.