Botswana's Biggest Diamond Miner Sees Production Drop In Q1

- Production at Botswana's biggest diamond miner Debswana went down in the first quarter of the year with lower grade at one of its key mines, its parent company Anglo American has revealed.
"Debswana's production decreased by 2 percent to 5.6 million carats due to a decline in grade at Orapa, which was largely offset by an increase in throughput at both Jwaneng and Orapa," Anglo American said in Production Report for the first quarter ended March 31, 2015.
The Botswana based company, which is owned 50/50 by government and South Africa's De Beers saw its production remaining flat as it produced 24.2 million carats in 2014.
Anglo, the global diversified mining group with 85 percent stake in De Beers, has most of its meat in Botswana where high value diamonds are mined.
Although Debswana does not state its revenues, it said income grew by 31 percent in 2014 on the back of record sales revenue owing to strong demand and a favorable exchange rate. (Cihan/Xinhua)