Debswana production marginally down

“There was lower production at Orapa, partially offset by an increase in production at Jwaneng. Damtshaa was placed on care and maintenance from January 2016,” Anglo said. In the period, the flagship Jwaneng mine produced 3.2 million carats up 15 percent from the same period last year while Orapa’s output was down 23 percent to two million carats. In 2016, the company, which produces about 70 percent of parent company De Beers’ production, plans to keep production at a flat 20 million carats this year, as it remains cautiously optimistic of the market despite early signs of an improved market sentiment in 2016.

From a high of 34 million carats in 2007, diamond production, which contributes around 20 percent to Botswana’s GDP and 65 percent to foreign exchange receipts, has plateaued in the last few years as Debswana caps production to match weakening market conditions. In the medium to long-term, De Beers expects industry fundamentals to strengthen as global diamond production plateaus and demand continues to steadily increase.