De Beers, the world’s largest diamond producer by value, revealed today that it made about three times as much in sales of roughs in the…
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The international group says sales of polished diamonds below 0.50 carats are slow due to excess supply, weak Chinese demand and tight Indian liquidity.
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New vessel is expected to add about 500,000 carat a year of production capacity to Debmarine Namibia, a 50/50 joint venture between De Beers and the African nation’s government.
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Production dropped 6% in the quarter.
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Decision was made to give more artisanal and small-scale miners (ASM) the opportunity to benefit from the program, which helps them trace route of their diamonds throughout the supply chain.
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Copper production reached a five-year high, more than offsetting output declines at Minas Rio in Brazil and Kumba in South Africa.
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The New York-based jeweller has launched its own program to identify for customers the country where their diamonds were mined, and, eventually, information on where they were cut, polished and set.
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The 127 carat, top white gem diamond, is one of the of 129 precious stones of over 100 carats the company has recovered at the mine since it began operations in 2012.
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The Canadian miner expects to complete a feasibility study into potential underground production and life-of-mine expansion for Karowe.
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President and CEO Stuart Brown spent 19 years with De Beers.
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