Fortrove News

According to an investor update given on Tuesday, De Beers is forecasted to mine 35-36 million carats of diamonds as opposed to the slightly less 34-36 million for 2018's fiscal year.

In a statement given on Tuesday regarding the progress of the company, Anglo American's CEO Mark Cutifani, said “We have completely transformed the quality of our asset portfolio and our performance as a whole over the last five years. We have created a highly competitive business, with Anglo American amongst the very best in the industry in terms of margin."

“We see considerable further opportunity ahead and continue to target $3-4 billion of incremental annual EBITDA by 2022," he continued. "This will come from a combination of meeting or surpassing industry best-practice equipment performance across our operations; volume growth from existing and new operations … and the deployment of our FutureSmart Mining technologies and digitalization. It is these technologies that will transform how we mine, process and market our products, providing the next step change in our performance.”

The past five years have seen a rise in productivity and cutting of costs from Anglo due to Cutifani’s leadership.

Information originally sourced from National Jeweler