• Mining sector endures worst recessionMay 27, 2025
    Mining shows zero confidence on better business conditions Weaker global demand of rough diamonds trouble the sector Other sectors optimistic about improved conditions in 2025   BAKANG TIRO RelatedPosts Mining sector endures worst recession Who is the PSP PROTECTING?… Read more: Mining sector endures worst recession
  • Who is the PSP PROTECTING?May 27, 2025
    “She is protecting those facing corruption probe, hence removing DCEC intelligence head”- claim The DCEC recently confirmed that it was investigating some senior govt officials   DITIRO MOTLHABANE RelatedPosts Mining sector endures worst recession Who is the PSP PROTECTING?… Read more: Who is the PSP PROTECTING?
  • TIKI MEDIA * Head Branding SolutionsMay 26, 2025
    RelatedPosts TIKI MEDIA * Head Branding Solutions WILDERNESS AIR * Quality Assurance Manger MINISTRY OF COMMUNICATIONS AND INNOVATION * Deputy Director – Department of Shared Digital Services * Director – Research and Knowledge Business
  • WILDERNESS AIR * Quality Assurance MangerMay 26, 2025
    RelatedPosts TIKI MEDIA * Head Branding Solutions WILDERNESS AIR * Quality Assurance Manger MINISTRY OF COMMUNICATIONS AND INNOVATION * Deputy Director – Department of Shared Digital Services * Director – Research and Knowledge Business
  • MINISTRY OF COMMUNICATIONS AND INNOVATION * Deputy Director – Department of Shared Digital Services * Director – Research and Knowledge BusinessMay 26, 2025
    RelatedPosts TIKI MEDIA * Head Branding Solutions WILDERNESS AIR * Quality Assurance Manger MINISTRY OF COMMUNICATIONS AND INNOVATION * Deputy Director – Department of Shared Digital Services * Director – Research and Knowledge Business
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
  • Login
  • Register
Saturday, May 31, 2025
17 °c
Gaborone
21 ° Tue
22 ° Wed
24 ° Thu
26 ° Fri
The Patriot On Sunday
Advertisement
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
Cart / $0.00

No products in the cart.

  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
The Patriot On Sunday
No Result
View All Result
Home Business

De Beers buoyant on growth

Ricardo Kanono by Ricardo Kanono
March 4, 2021
in Business
240
0
Rowley

Rowley

491
SHARES
1.4k
VIEWS
ShareShareShare

  • Group expect better recovery in 2021
  • Positive demand for diamond industry
  • 2020 bruising as revenues drop by 30%

BAKANG TIRO

RelatedPosts

Mining sector endures worst recession

VP applauds the Northern Trade Fair

ALC’s STRATEGIC investment

editors@thepatriot.co.bw

Blue chip diamond company De Beers Group is buoyant that its business will bounce back this year as compared to 2020 due to the promising demand in diamonds since the start of the year.

De Beers Executive Vice President Diamond Trading, Paul Rowley, while presenting the Group’s 2020 financial results, said the Group revenue stood at $3.4 billion in 2020 as compared to the $4.6 billion posted in 2019, representing 30% decline. But he is buoyant of growth amid 2021 outlook.

“2020 was unprecedented year for the diamond industry globally and we also suffered from the effects of Covid-19. Containment measures such as the lockdowns impacted negatively on our business operations. There have been significant challenges for the rough diamond industry,” he said.

The buoyant De Beers Group executive said there has been high demand for diamonds in 2021 and therefore recovery is imminent. But he cautioned that the business has to be vigilant too.

Rowley added that the company’s target in 2021 is to produce between 32 and 35 million carats.

According to him, the production target is informed by the promising signals of recovery in the diamonds sales as most of De Beers’ top markets are showing resilient economic recoveries.

 Anglo American, the parent company of De Beers, recently revealed that the rough diamond output at De Beers Group declined by 14% on its production report of fourth quarter (Q4) of year 2020.

The company said the decline was driven by continued planned reductions in response to the lower demand for rough diamonds caused by Covid-19 and operational challenges at the Orapa mine.

Anglo America owns 85% of De Beers Group, the world’s leading diamond company, with the remaining 15% owned by the Government of Botswana and both mining diamonds through Debswana mines.

“In Botswana, production decreased by 28% to 4.3 million carats, driven by the planned treatment of lower grade material at Jwaneng, where production decreased by 56%. This was partly offset by a 9% increase at Orapa due to a planned improvement in grade despite a slower than anticipated plant restart in December following scheduled maintenance as well as power supply interruptions affecting plant availability,” said Anglo American while reviewing Botswana.

But, Rowley said De Beers anticipates recovery at all Debswana mines in 2021. De Beers, a diamond mining giant which operates across the whole value chain of the lucrative industry, said it underwent massive transformation in 2020 so to withstand the pandemic heat wave.

Rowley indicated that as part of accelerating the transformation, the Group down streamed its operations and announced new brands like 12 Forever goals as well consumer markets division.

Giving update on community response in 2020, De Beers Group Chief Financial Officer, Susanne Swanniker-Tettey said the company cushioned the communities it operates in amidst Covid-19.

She said that included the launch of Building forever 2030 goals – the sustainability and commitment goals by which the Group intends to build partnerships for thriving communities.

The Group’s 12 Building Forever ambitious sustainability goals for the coming decade include achieving gender parity throughout its workforce, a diamond producing partner countries and being carbon neutral within its own diamond mining operations by 2030.

Related

Tags: BAKANG TIRODe Beers Group

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Previous Post

Lucara spends P200m in Karowe

Next Post

VAT increase to fuel inflation growth

Related Posts

Mining sector endures worst recession
Business

Mining sector endures worst recession

May 27, 2025
VP applauds the Northern Trade Fair
Business

VP applauds the Northern Trade Fair

May 26, 2025
ALC’s STRATEGIC investment
Business

ALC’s STRATEGIC investment

May 19, 2025
Stanbic boosts green economy
Business

Stanbic boosts green economy

May 12, 2025
STRONG, FOCUSED FORCE OF NATURE
Business

STRONG, FOCUSED FORCE OF NATURE

May 7, 2025
Modernising the exchange
Business

Modernising the exchange

May 7, 2025
Next Post
VAT increase to fuel inflation growth

VAT increase to fuel inflation growth

Please login to join discussion
  • Mining sector endures worst recessionMay 27, 2025
    Mining shows zero confidence on better business conditions Weaker global demand of rough diamonds trouble the sector Other sectors optimistic about improved conditions in 2025   BAKANG TIRO RelatedPosts Mining sector endures worst recession Who is the PSP PROTECTING?… Read more: Mining sector endures worst recession
  • Who is the PSP PROTECTING?May 27, 2025
    “She is protecting those facing corruption probe, hence removing DCEC intelligence head”- claim The DCEC recently confirmed that it was investigating some senior govt officials   DITIRO MOTLHABANE RelatedPosts Mining sector endures worst recession Who is the PSP PROTECTING?… Read more: Who is the PSP PROTECTING?
  • TIKI MEDIA * Head Branding SolutionsMay 26, 2025
    RelatedPosts TIKI MEDIA * Head Branding Solutions WILDERNESS AIR * Quality Assurance Manger MINISTRY OF COMMUNICATIONS AND INNOVATION * Deputy Director – Department of Shared Digital Services * Director – Research and Knowledge Business
  • WILDERNESS AIR * Quality Assurance MangerMay 26, 2025
    RelatedPosts TIKI MEDIA * Head Branding Solutions WILDERNESS AIR * Quality Assurance Manger MINISTRY OF COMMUNICATIONS AND INNOVATION * Deputy Director – Department of Shared Digital Services * Director – Research and Knowledge Business
  • MINISTRY OF COMMUNICATIONS AND INNOVATION * Deputy Director – Department of Shared Digital Services * Director – Research and Knowledge BusinessMay 26, 2025
    RelatedPosts TIKI MEDIA * Head Branding Solutions WILDERNESS AIR * Quality Assurance Manger MINISTRY OF COMMUNICATIONS AND INNOVATION * Deputy Director – Department of Shared Digital Services * Director – Research and Knowledge Business
The Patriot On Sunday

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

Navigate Site

  • About Us
  • Advertise
  • Disclaimer
  • Contact Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?