De Beers First Quarter Production -6.8%

De Beers’ diamond production in the recently ended quarter declined 6.8 percent to 11.774 million carats. The decline in output was mainly due to power shortages and unplanned maintenance at the Venetia mine in South Africa.

According to the March quarter Review and Production report by 45-percent stakeholder Anglo American plc, De Beers’ mines in Canada will come online this year.

Snap Lake, which already commenced production, is expected to reach full production during 2008. In addition, the Victor diamond mine is expected to enter production in the next few months – by mid 2008.