Anglo American Reduces Diamond Production Forecast

Anglo American, the mining company that owns De Beers, has reduced its forecast for diamond production, citing the weakened diamond market.

In its production report for the first quarter of 2015, the company announced that “full year production guidance for diamonds has been reduced from 32 million–34 million carats to 30 million–32 million carats, in light of current trading conditions.”

In the first quarter, the company produced 7.7 million carats, an increase of 2 percent over estimations. The increase was due to the good performance of its Venetia mine in South Africa. 

The full report is available at angloamerican.com