De Beers Increases Production Guidance Amid Robust Demand

By John Jeffay / July 24, 2022 / www.idexonline.com / Article Link

(IDEX Online) - De Beers has increased its production guidance for 2022 - from 30-33Mct to 32-34Mct - citing "robust demand and strong year-to-date operational performance".Sanctions against Alrosa, its biggest rival, have led to global shortages of rough. Last month De Beers reported $650m of rough sales at its fifth sales cycle of 2022, up over a third year-on-year. It reportedly hiked the price of smaller goods - traditionally an Alrosa staple - by up to seven per cent.Rough diamond production fell by four per cent during the three months ending 30 June, reflecting lower grades in Canada and Botswana, parent company Anglo American said in its latest production report.De Beers output in Q2 2022 was 7.9Mct, down from 8.2Mct in Q2c 2021. In the six months to 30 June production was 16.9Mct, up 10 per cent on 15.4Mct in H1 2022.Pic courtesy De Beers

Recent News

Crypto market size continues to catch up with gold

November 18, 2024 / www.canadianminingreport.com

Crypto stealing some of gold's thunder

November 18, 2024 / www.canadianminingreport.com

Gold stocks drop on metal price decline

November 11, 2024 / www.canadianminingreport.com

US a major market for Canadian mineral exports

November 11, 2024 / www.canadianminingreport.com

Gold stocks down along with broad equities decline

November 04, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok