SourcingApr 21, 2021
Why Inclusivity Is Important in Diamond Traceability SourcingApr 23, 2021
De Beers’ Production Slips 7% in Q1
Heavy rainfall in southern Africa, a COVID-19 shutdown in Canada, and planned maintenance all contributed.
A digger loads kimberlite into a haul truck at the Orapa Diamond Mine in Botswana. Heavy rains hampered diamond production in Botswana in the first quarter, De Beers said. (©De Beers, Photo credit: Ben Perry, Armoury Films)
London—De Beers Group’s diamond production fell in the first quarter due to a mix of inclement weather, COVID-19, and planned maintenance.
The company mined 7.2 million carats of diamonds, down 7 percent from 7.8 million carats in Q1 2020 and 9 percent from 7.9 million carats in Q1 2019.
De Beers recorded its steepest decline in Namibia, where production fell 34 percent to 338,000 carats.
The marine mining vessel, the Mafuta, was undergoing planned maintenance while another vessel remained sidelined, part of the response to lower demand first implemented in Q3 2020.
Production in Canada dropped 16 percent to 710,000 carats, primarily because a COVID-19 outbreak forced De Beers to close Gahcho Kué in February.
Heavy rainfall impacted diamond mining in Botswana, where a 24 percent reduction at the Orapa mine contributed to the overall 12 percent slide in production to 5 million carats.
South Africa was the first quarter bright spot for De Beers.
Related stories will be right here …
The company mined 7.2 million carats of diamonds, down 7 percent from 7.8 million carats in Q1 2020 and 9 percent from 7.9 million carats in Q1 2019.
De Beers recorded its steepest decline in Namibia, where production fell 34 percent to 338,000 carats.
The marine mining vessel, the Mafuta, was undergoing planned maintenance while another vessel remained sidelined, part of the response to lower demand first implemented in Q3 2020.
Production in Canada dropped 16 percent to 710,000 carats, primarily because a COVID-19 outbreak forced De Beers to close Gahcho Kué in February.
Heavy rainfall impacted diamond mining in Botswana, where a 24 percent reduction at the Orapa mine contributed to the overall 12 percent slide in production to 5 million carats.
South Africa was the first quarter bright spot for De Beers.
Production increased 55 percent to 1.2 million carats due to the planned treatment of higher-grade ore from the final cut of the open pit at Venetia, the company’s sole remaining mine in South Africa.
De Beers said demand for rough diamonds recovered to pre-COVID levels in Q1, as the midstream restocked following strong demand for diamond jewelry in the U.S. and China at the end of 2020.
Rough diamond sales totaled 13.5 million carats from three sights, up from 8.9 million carats from two sights in Q1 2020 and 6.9 million carats from two sights in the fourth quarter 2020.
De Beers’ full-year production guidance remained unchanged at 32-34 million carats, though that is subject to trading conditions and the extent of any more COVID-19 related disruptions to its mines.
That target is up from both its 2020 total (25.1 million carats) and 2019 total (30.8 million carats).
That target is up from both its 2020 total (25.1 million carats) and 2019 total (30.8 million carats).
More on Sourcing
The Latest
Recorded WebinarsMay 07, 2021
Watch: The Office Called, It Wants You BackAs more people prepare to return to work, two JVC attorneys discuss vaccines, health screenings, permanent remote work, and more.
Events & AwardsMay 07, 2021
Here’s the Latest on Health, Safety Measures for JCK Las VegasThey include temperature screenings, a “no handshakes, no hugs” policy, and more.
CollectionsMay 07, 2021
Muzo Colombian Emeralds Debuts E-Commerce, New Collection It’s the famed emerald miner’s first entirely shoppable website.
Brought to you by
How to Engage and Sell to MillennialsMillennials were once feared in the diamond industry, but now this younger generation has become today’s largest diamond buying demographic.
IndependentsMay 07, 2021
JA Promotes Fine Jewelry for Mother’s DayThe trade organization showcased members’ jewelry on more than 30 morning shows across the U.S.
Weekly QuizApr 29, 2021
This Week's QuizTest your knowledge of jewelry news from the week of May 3-7, 2021.
TrendsMay 07, 2021
Piece of the Week: Brent Neale’s Emerald Knot RingIt pairs May’s birthstone with bright turquoise.
Policies & IssuesMay 06, 2021
US Economy Could See Fastest Growth Since the ‘80sThe National Retail Federation expects it to grow nearly 7 percent in 2021 as businesses reopen and consumer confidence continues to rise.
Brought to you by
A New Golden AgeGold has had its share of ups and downs over the last 5 decades. Here’s why the metal is having another big comeback.
IndependentsMay 06, 2021
Harris Jewelry Closes All LocationsThe jeweler will continue to operate online and via phone.
