Sourcing

De Beers Production Up 21% So Far This Year

SourcingJul 20, 2017

De Beers Production Up 21% So Far This Year

This includes a 36 percent increase in the second quarter, with De Beers describing diamond trading conditions as “stable.”

2016_Gahcho-Kue.jpg
An aerial shot of De Beers’ new Gahcho Kué mine in Canada, which officially opened last fall. The opening of this new mine helped buoy production figures for De Beers Canada in the first half of 2017, parent company Anglo American said.

London--De Beers’ rough diamond production is up so far this year, with the diamond miner and marketer reporting trading conditions as “stable.”

Figures reported Thursday morning by parent company Anglo American show that De Beers mined 8.7 million carats of rough diamonds in the second quarter, a 36 percent increase when compared with the second quarter 2016.

For the first half of the year, rough diamond production has totaled 16.1 million carats, compared with 13.3 million carats in the first half of 2016, a 21 percent increase.

The biggest increase came from the De Beers operations in Canada, where the new Gahcho Kué mine, which officially opened in fall 2016, reached nameplate (full expected) capacity. The mine is a joint venture of De Beers (51 percent) and Mountain Province Diamonds (49 percent).

Production also increased for Namdeb Holdings, the mines De Beers operates in cooperation with the government of Namibia, as Debmarine Namibia’s Mafuta vessel was in operation again after being on planned extended in-port maintenance in the second quarter 2016.

Debmarine is the arm of De Beers that also recently launched a new $157 million vessel for diamond exploration and sampling in the Atlantic Ocean.

The company’s full-year guidance production remains unchanged at 31 to 33 million carats.

Sales-wise, De Beers’ consolidated rough diamond sales volumes were down year-over-year in the second quarter, with sales totaling 5.4 million carats from two sights, compared with 9.6 million carats from three sights in the same period last year. Apart from the extra sight, De Beers said it was up against difficult comps because of the high level of midstream restocking in the prior-year period.

Sales are up for the entire first half of 2017, reaching 19.1 million carats, compared with 17.2 million carats in the first half of 2016.

The average realized price for rough diamonds in the first half of 2017 was $156 per carat, a 12 percent decrease year-over-year. De Beers said there was strong demand for lower-value goods at the first sight of 2017 as diamond traders in India who recovered from the impact of that country’s demonetization program started buying goods again early this year.

Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

The Latest

Angelina Conti of Conti Jewelers
IndependentsMar 29, 2024
Angelina Conti of Conti Jewelers Dies at 98

She is remembered by loved ones as a “guiding force” behind the store and an active presence in her community.

Emerald Slinkee Drops earrings
EditorsMar 29, 2024
Piece of the Week: Boochier’s ‘Slinkee Drops’ Earrings

The emerald earrings reference objects from designer Melinda Zeman’s childhood.

Future Fortune sapphire ring
TechnologyMar 28, 2024
Pinterest’s 2024 Wedding Report Is Out

The report shows that couples are searching for vintage and antique rings, gold jewelry, pearls, and colorful pieces.

Jewelers of America Fly In Washington, D.C.
Brought to you by
How Jewelers of America Represents Your Business

For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.

David Ettinger
IndependentsMar 28, 2024
David Ettinger of Bechdel Jewelers Dies at 69

He’s remembered as a “font of passion,” leaving behind a legacy of dedication to his craft and community.

Weekly QuizMar 28, 2024
This Week’s Quiz
Test your jewelry news knowledge with this short test.
Take the Quiz
Jewelers of America logo
IndependentsMar 28, 2024
JA to Host Series of Learning Workshops

The first one will take place next month during the Jewelers of Louisiana’s and Mississippi Jewelers Association’s conventions.

Jaeger-LeCoultre Madison Avenue NYC store
WatchesMar 28, 2024
Peek Inside Jaeger-LeCoultre’s Revamped NYC Flagship

The redesigned boutique features interactive displays and a workshop space for hands-on learning about watchmaking.

BTYB-HoBrothers-updated.png
Brought to you by
The Scalable, Professional, and Effortless Solution for High-Demand Custom Jewelry Retailers

Ho Brothers offers scalable solutions for the future of custom jewelry.

Kira Diam solar plant
Lab-GrownMar 27, 2024
Indian Lab-Grown Diamond Manufacturers Keep Growing

A combination of factors is driving growth in the industry despite the precipitous drop in prices across the board.

Bharat Ratnam, a Mega Common Facilitation Centre (CFC)
SourcingMar 27, 2024
Reinvigorating SEEPZ, the Epicenter of India’s Studded Jewelry Exports

The zone’s modernization will enhance and increase India’s jewelry manufacturing capabilities while aiding small and mid-sized businesses.

SRK Empire and SRK House
Policies & IssuesMar 27, 2024
SRK Exports’ Journey Toward Net Zero Impact

By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.

Georgia May Jagger Tommy Hilfiger ad campaign
FinancialsMar 27, 2024
Movado’s Full-Year Sales Sink 11%

The company plans to invest $25 million in marketing initiatives to boost awareness around its namesake and licensed brands.

Hand holding shopping bags
SurveysMar 27, 2024
Consumer Confidence Held Steady in March

Optimism about the current state of the economy was offset by anxiety around inflation and the political environment.

Bernadette Mack
Policies & IssuesMar 27, 2024
Mercury Free Mining Hires Bernadette Mack

The former WJA executive director is MFM’s new managing director.

April Is Diamonds Do Good Month
Policies & IssuesMar 27, 2024
Diamonds Do Good Announces Its April Initiative

DDG encourages retailers to educate customers on the positive impact of purchasing natural diamonds.

Tiffany & Co. With Love, Since 1837
MajorsMar 26, 2024
Tiffany & Co. Debuts ‘With Love, Since 1837’ Campaign

Highlighting the most iconic Tiffany collections, it’s inspired by the company’s late window designer, Gene Moore.

National Jeweler columnists Duvall O’Steen and Jen Cullen Williams
ColumnistsMar 26, 2024
Creative Connecting: AI Tools and Tips for Social Media

Jen Cullen Williams and Duvall O’Steen explore how jewelers can save time and money by using AI to analyze engagement and create content.

Nordstrom Men’s Store New York City
MajorsMar 26, 2024
Nordstrom May Go Private, Says Report

The retailer previously turned down an $8.4 billion offer in 2018.

Interior of Miami Lakes Jewelers
IndependentsMar 26, 2024
Miami Lakes Jewelers to Close After 37 Years

The Florida store’s owner Miguel Gonzalez is retiring.

 International Gemological Institute
GradingMar 26, 2024
IGI Announces Tech for ID’ing Lab-Grown Colored Diamonds

The lab stresses the importance of accurate identification, as the difference in price is “substantial.”

Kendra Scott lab-grown diamond jewelry
CollectionsMar 25, 2024
Kendra Scott Debuts Lab-Grown Diamond Fashion Jewelry

The brand also plans to expand its retail footprint from 138 to 200 stores over the next three years.

Instappraise logo NAJA logo
Events & AwardsMar 25, 2024
NAJA, Instappraise Offering Scholarships for Aspiring Jewelry Appraisers

One is reserved for a NAJA member, the other for a non-member.

Carie Lehrke and Megan Mattice
MajorsMar 25, 2024
Borsheims Announces New VP of HR, Assistant Manager

Longtime employees Carie Lehrke and Megan Mattice have received promotions.

My Next Question graphic vintage jewelry webinar
Recorded WebinarsMar 22, 2024
Watch: How to Buy and Sell Vintage Jewelry

Three guests joined National Jeweler and Jewelers of America to discuss trending time periods, spotting reproductions, and more.

Chris Clipper and Robert Lepere
MajorsMar 22, 2024
David Yurman Announces New CFO, Chief People Officer

Chris Clipper and Robert Lepere join the company with 50 years of combined experience.

Nakard pyrite earrings
CollectionsMar 22, 2024
Piece of the Week: Nakard’s Pyrite Earrings

The trendy, metallic earrings wink at classic spring colors.

Stock image of police cars with their lights on
CrimeMar 21, 2024
Sparks Fly as Burglars Lose Safe on California Freeway

JSA said a man and woman pulled the safe out of an Oakland jewelry store but couldn’t quite get it into their van.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy