De Beers H1 Diamond Haul Higher In 2013

De Beers reported half-year production increased by nearly one million carats to 14.3 million carats in the first half of 2013 from 13.4 million carats in the year-earlier period owing to improved ore grades at Orapa and Jwaneng mines in Botswana. Total sales of $3.3 billion were unchanged from a year earlier, while rough diamond sales of $3.0 billion were also unchanged.

After a 12% decline in De Beers’ rough diamond prices during the second half of 2012, prices increased by 6% in the first six months of 2013, the miner said.

"The realized average price to June 2013 was 2% higher than for the same period 2012, driven by an improved product mix, more than offsetting the lower price index," the diamond company commented.

"De Beers expects moderate growth in diamond jewelry demand in the remaining six months of 2013, supported by improving sentiment in the US market and continued growth in China, albeit at a lower rate. Conditions in India and Japan remain more uncertain due, in part, to the continuing volatility of their currencies, which is expected to affect growth in US dollar terms.

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