De Beers Produced 51 Million to 52 Million Carats Of Diamonds In 2007
De Beers, the worlds largest producer of rough diamonds, produced 51 million to 52 million carats last year, not very much has changed since last year, Gareth Penny Managing Director said on Wednesday.
He said that the company’s sales over Christmas were mixed, but there was a strong demand for big colored gems. He also said that sales were weaker in the U.S.
De Beers partnership with LVMH Mort Hennessy Louis Vuitton, meanwhile, sold more than $100 million in diamonds last year through 23 stores worldwide.
Johannesburg- based De Beers, produces about 40% of the world’s rough diamond and markets about 45%. Penny said that the company will supply more than $1 billion rough diamond to factories in Botswana, Namibia and South Africa by 2009.
De Beers exploration efforts discovered 45 new kimberlites last year while in South Africa the De Beers Consolidated Mines will receive what are know as new order mining rights for Venetia mine in South Africa’s Limpopo province, which penny has said is by far there largest company mine in the country.
South Africa’s mining charter requires company’s to reapply or assert mining and exploration right after the government assumed control of the industry following the end of apartheid.
De Beers, which is to release its 2007 annual results Friday, had record production of 51 million carats in 2006 vs. 49 million carats the year before.