28-4-2020
De Beers slashes forecast diamond production for 2020 from between 32 million to 34 million carats to between 25 million and 27 million carats as lockdown measures have impacted diamond mining activity and consumer traffic in key markets.
“Lockdown measures have significantly impacted diamond production in southern Africa, manufacturing in India and retail operations in the United States,” De Beers said in the statement. The miner produced 7.75 million carats in total in the Q1 of 2020, down one percent yoy. Debswana, which accounts for 76 percent of De Beers’ output in 2019, production dropped five percent. Other operations in the group were variously affected by lockdown in response to coronavirus outbreak.
Meanwhile, the world’s largest diamond miner by volume Alrosa targets to meet its production guidance for this year of 34.2 million carats.
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