Debswana production softens to 23.3m carats

Last year, global diamond giant, De Beers, which owns 50% of Debswana, cut the target for its operations worldwide to 31 million carats, from an initial forecast of up to 33 million carats.

De Beers has a policy of mining to demand and minimising stockpiles, a strategy adopted after the rough diamond demand collapse triggered by the global recession in 2009. Debswana, however, said it would maintain its production guidance of 24 million carats and as such did not expect the slump to affect jobs at its four operating mines. Numbers released by Anglo American, which holds 85% equity in De Beers, show that for 2019, Debswana produced 23.25 million carats out of De Beers’ total 30.78 million carat production. De Beers’ total production was down from 35.30 million carats in 2018, the reductions mainly attributable to operations in South Africa, Namibia and Canada.