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Friday 19 July 2019
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Namdeb’s diamond productions shrink while Anglo’s surges

screen-shot-2016-10-30-at-6-55-12-pmNamdeb Holdings diamond production decreased by 13% to 0.4 million carats in the third quarter of this year. The decrease in production volumes did not have a major impact on its mother company, Anglo American, which managed to record increased diamond production volumes, the company announced in a report.In total, diamond production increased by 4% to 6.3 million carats compared with the same period last year when production was reduced in response to the prevailing trading conditions at the time. “Production at Namdeb Holdings (Namibia) decreased by 13% to 0.4 million carats with lower grades at Namdeb Land, and the Debmar Pacific vessel being in port for planned maintenance in Q3 2016 at Debmarine Namibia,” said the company in a statement issued on the Namibian Stock Exchange this week.
Consolidated rough diamond sales in the third quarter is reported to have increased by 77% to 5.3 million carats. At Debswana (Botswana), production increased by 12% to 4.5 million carats with production at Jwaneng increasing by 47% as a result of planned maintenance in third quarter of 2015 being prioritised in light of trading conditions. This was partly offset by a planned 22% decrease at Orapa to align aggregate production to trading conditions.Production at DBCM (South Africa) increased by 6% to 1.1 million carats largely as a result of processing higher grades at Venetia and increased throughput at Voorspoed. “This was partly offset by the early completion of the sale of Kimberley Mines in January 2016,” Anglo said.
While at its Canadian operations, production decreased by 48% to 0.2 million carats due to Snap Lake being placed on care and maintenance in December 2015. “This was partially offset by first production at Gahcho Kué. Gahcho Kué was officially opened on 20 September 2016 and ramp-up is progressing well.”Mark Cutifani, Anglo American Chief Executive, said “Operational improvements continue across the portfolio, delivering a 4% production increase on a copper equivalent basis(9) in the third quarter, and a 12% increase compared to Q2 2016.“The latter increase is largely due to the strong recovery at Kumba´s Sishen mine, a 46% production increase, following the successful completion of its restructuring,” he said.In our diamond and platinum businesses, Cutifani said, “we continue to maintain discipline on volumes by mining to demand, whilst the ramp-ups at Minas-Rio and Grosvenor are progressing well, and Barro Alto has now reached nameplate capacity.”Cutifani further added that the higher production at De Beers is reflective of improved market conditions relative to the third quarter in 2015, “but we maintain a cautious outlook.”
[nsx.com.na]




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