Fortrove News

De Beers' recovery of rough diamonds has fallen by 5% in the third quarter. These numbers could be attributed to the diamond company's recent cuts in production in both South Africa and Botswana. 8.7 million carats were recovered in the third quarter during 2018, compared to last year's 9.2 million. 

De Beers Consolidated Mines (DBCM) in South Africa has seen a 14% fall in production resulting in 1.3 million carats. De Beers’ joint venture with the government of Botswana called Debswana is the diamond company's largest mining division. Debswana has seen a 6 percent drop to 5.7 million carats because of lower grades of planned processing at Jwaneng.

The Canadian Victor mine is slowly winding down in terms of use, but DBCM was the only segment to post their year-to-date decline of production by 15%. The diamond company's current production guidance remains at a steady 34-36 million carats.