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Anglo weighs more De Beers’ production cuts

Friday, November 01, 2024 | 1190 Views |

Tough times: Debswana is waiting for a recovery from the prolonged slump

De Beers could ask Debswana to restrain its output again – which would be the third time this year – as diamonds continue in a slump, threatening economic activity in the country.

Duncan Wanblad, the CEO of Anglo American which holds 85% equity in De Beers, said assessment of the situation was continuing to guide any further production decisions.

“As previously announced, we reduced rough diamond production from De Beers in response to market conditions,” the CEO said in a third-quarter update released recently.

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