De Beers 2011 Production 31 Million Carats

(IDEX Online News) – De Beers mined an estimated 31.3 million carats in 2011, a 5.2 percent decrease from 2010, based on figures released by Anglo American.

Diamond production by De Beers in the fourth quarter decreased 24 percent to 6.5 million carats. The reduction mainly reflects De Beers’ focus on increasing waste stripping and maintenance work at the Debswana operations in Botswana and DBCM operations in South Africa.

The work was "in recognition of short-term global macro-economic volatility," 45 percent stakeholder Anglo American stated in a production report.

Compared to the 9.3 million carats mined in the third quarter of 2011, production in the fourth quarter decline 30 percent.

Last November, the Oppenheimer family accepted Anglo American's offer to buy the Oppenheimer's 40 percent stake in De Beers for $5.1 billion.

De Beers is expected to release 2011 figures in the first week of February.