Debswana output falls 16% on softer demand

Production at Debswana Diamond Company took a 16 percent knock to 20.4 million carats in 2015 as the mining giant was forced to trim output due to weakening global demand.

According to figures published by Anglo American, the decline was largely propelled by a fourth quarter 21 percent production decrease to 4.7 million carats as a result of a reduction in tonnes treated at Jwaneng and Orapa. “The decline was consistent with the decision to reduce production in line with trading conditions. Damtshaa was placed on care and maintenance from January 2016,” said Anglo. Listed Anglo American owns 85 percent of De Beers, which in turn holds an equal joint shareholding in Debswana with the Botswana government. 

The reduced output at Debswana also pulled down De Beers’ output numbers in a year characterised by constrained diamond prices and demand.  In 2015, De Beers rough diamond sales slumped 40 percent to 20.6 million carats as market weakness and lower diamond manufacturing levels took their toll.

Editor's Comment
The corrupt must be punished

The findings reveal a disturbing pattern of misconduct and lack of transparency that cannot be ignored.The Tribunal, led by Judge President Justice Kabelo Lebotse, has rightly condemned the Ministry for its eyebrow raising conduct in awarding a P1.8 billion water tender to China Civil Engineering Construction Corporation (Pty) Ltd and Zhong Gan Engineering & Construction Corporation (Pty) Ltd.The award was made despite alleged clear evidence that...

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