{"id":11175,"date":"2022-08-01T10:37:40","date_gmt":"2022-08-01T10:37:40","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/all-news\/de-beers-rough-production-decreases"},"modified":"2022-08-01T10:37:40","modified_gmt":"2022-08-01T10:37:40","slug":"de-beers-rough-production-decreases","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/de-beers-rough-production-decreases","title":{"rendered":"De Beers Rough Production Decreases"},"content":{"rendered":"

Africa-Press – Botswana. <\/strong><\/span>Rough diamond production at the world\u2019s leading diamond company, De Beers, decreased by 4 percent from 8.2 million carats in the first quarter of 2022 to 7.9 million carats in the second quarter of 2022 that ended 31 June 2022.<\/b><\/p>\n

According to a report released by De Beers\u2019 parent company, Anglo American, the decrease in rough diamond production is primarily due to the treatment of lower grade ore at operations in both Canada and Botswana.<\/p>\n

Namibia production up by a massive 67%<\/b><\/p>\n

\u201cIn Botswana, production decreased by 4 percent to 5.5 million carats due to lower grade ore being processed at both Jwaneng and Orapa,\u201d Anglo noted in a statement. \u201cNamibia production increased by 67 percent to 0.6 million carats, primarily driven by continued strong performance from the Benguela Gem since the early delivery of the new diamond recovery vessel in Q1 2022.\u201d<\/p>\n

Anglo noted that in the neighbouring South Africa, production decreased by 4 percent to 1.2 million carats due to lower tonnes treated. \u201cProduction in Canada decreased by 28 percent to 0.6 million carats due to treating lower grade ore, unscheduled plant maintenance and the impact of COVID-19 related absenteeism,\u201d the Anglo statement continued.<\/p>\n

Robust demand continued in Q2<\/b><\/p>\n

Additionally, Anglo noted that strong demand for rough diamonds continued into the second quarter, with rough diamond sales totalling 9.4 million carats (8.3 million carats on a consolidated basis) from three Sights, compared with 7.3 million carats (6.5 million carats on a consolidated basis) from two Sights in Q2 2021 and 7.9 million carats (7.0 million carats on a consolidated basis) from two Sights in Q1 2022, both of which benefited from strong demand recovery following the impact of COVID-19 in 2020.<\/p>\n

\u201cWhile consumer demand for natural diamonds continued to be robust in the first half, a deterioration of global macro-economic conditions and reduced consumer spending could impact demand for diamond jewellery,\u201d stated the Anglo statement. \u201cDespite this, the combination of ongoing sanctions against Russia, decisions from a number of US-based jewellery businesses to apply their own restrictions on purchases of Russian diamonds, and continued development of provenance initiatives (such as the TracrTM blockchain platform) has the potential to underpin continued robust demand for De Beers\u2019 rough diamonds.\u201d<\/p>\n

Rough price up 28% in H1 2012<\/b><\/p>\n

Anglo said the H1 2022 consolidated average realised price increased by 58 percent to $213\/ct (H1 2021: $135\/ct), driven by a larger proportion of higher value rough diamonds sold, as well as higher prices. The company noted that rough price index increased by 28 percent compared to H1 2021, reflecting positive consumer demand for diamond jewellery as well as tightness in inventories across the diamond value chain.<\/p>\n

For More News And Analysis About Botswana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Botswana. Rough diamond production at the world\u2019s leading diamond company, De Beers, decreased by 4 percent from 8.2 million carats in the first quarter of 2022 to 7.9 million carats in the second quarter of 2022 that ended 31 June 2022. According to a report released by De Beers\u2019 parent company, Anglo American, […]<\/p>\n","protected":false},"author":84,"featured_media":11174,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,8,16],"tags":[233,237,234],"class_list":["post-11175","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"\nDe Beers Rough Production Decreases - Botswana<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/de-beers-rough-production-decreases\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"De Beers Rough Production Decreases\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Botswana. Rough diamond production at the world\u2019s leading diamond company, De Beers, decreased by 4 percent from 8.2 million carats in the first quarter of 2022 to 7.9 million carats in the second quarter of 2022 that ended 31 June 2022. 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