Debswana output set to reach 2014 peaks

Debswana produced 24.2 million carats in 2014 before mid-stream overstocking and weak demand forced a limiting of production to 20.4m in 2015 and 20.5m carats in 2016.  In April, the diamond giant revealed it was targeting 20.5m this year, but last week, a De Beers executive confirmed the figure would likely be closer to 22 million.

De Beers executive head (strategy and corporate affairs) Gareth Mostyn told Mmegi Business the prospects for healthy demand in the second half of the year were looking strong. Debswana’s three mines produced 11.12m carats in the first six months of the year, representing 70% of De Beers’ global production. De Beers holds 50% equity in Debswana.