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De Beers raises diamond production amid Canadian mine ramp-up
Higher output De Beers says its diamond production in the fourth quarter of 2017 increased by 5% to 8.1 million carats "reflecting stronger trading conditions as well as the contribution from the ramp-up of Gahcho Kuéin Canada,”the company said in a statement.
In total, the diamond miner raised its production by 22% to 33.454 million carats last year, up from 27.339 million carats in 2016, the statement said.
De Beers launched commercial production at Gahcho Kué, which it calls the world’s largest new diamond mine in the last 13 years, in March 2017. The mine is a joint venture between De Beers and Mountain Province Diamonds which hold stakes of 51% and 49%, respectively. The asset is expected to produce about 54 million carats of rough diamonds over its lifetime, according to data from De Beers.