De Beers Produces 8.9 Million Carats in Q1 2023

De Beers’ production of rough diamonds in the first quarter of 2023 remained flat, as the mining giant reported production of 8.9 million during the period – “exactly the same as Q1 last year,” according to IDEX Online.

Production was up almost 10% on Q4 2022 (8.2 million carats), but down when compared to its production in Q3 2022 (9.6 million carats). Production was more than halved to 1.7 million carats at the Venetia mine in South Africa, where De Beers transitioned from open pit to underground mining. Jwaneng and Orapa, De Beers’ two mines in Botswana, were responsible for more than 75% of the company’s total diamond output. 

According to the report, De Beers’ diamond production guidance for 2023 remains between 30 to 33 million carats. Actual production for 2022 was 34.6 million carats and for 2021 it was 32.3 million carats.

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