Friday, June 16, 2017
The De Beers noted that its unit sales by auction of diamonds offer other cutting and polishing companies to sell certain types of stones through the auction platform miners.
New limited pilot program for interaction of business was a continuation of a similar project recently submitted earlier for diamond producers.
"Testing new ideas in pilot projects, such as this one, is an important part of this process, and we look forward to how the diamond business will react to the expansion of business opportunities with third parties. Once we get the initial feedback, we will decide if there whether sufficient demand for the continuation of this program, "- said the executive vice-president of the De Beers at auction sales Neil Ventura (Neil Ventura).
"An important factor is that if we can offer the same level of confidence in the origin of the stone, which is the best in the industry. At the same time, thanks to our process of verification of origin, the establishment of counseling field with existing customers, we are confident that we can do this".
The company said that all diamonds offered for sale on an auction platform must pass a comprehensive three-step process of screening to identify synthetic and treated stones.
Ventura said that for the diamond auction program will be available for individual stones weighing more than five carats, and all the fancy colors.
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Anglo American said that 2016 will be more difficult than 2015, the second, since it is expected that from mining revenues continue to fall.
Main Groups Mark Kyutifani Executive Officer (Mark Cutifani) said, speaking at the Conference on Investment in African mining industry (African Mining Indaba) in Cape Town, in 2015 due to weak commodity prices, the company was losing about $ 350 million in revenue per month.
"That's a lot for [mining] industry", - he said.
But he said that Anglo better prepared after its recent restructuring.
The group said in December that it would hold its consolidation of the six business units in three, as it aims to ensure "optimum efficiency and effectiveness" and to provide "an additional opportunity to reduce the cost burden on our business."
These three divisions are De Beers, industrial metals and massive bulk goods.
The group expects to receive $ 3.7 billion through increased efficiency, which includes productivity growth [reduction] and indirect operating costs by the end of 2017.
"We are taking further steps to improve the balance sheet and reduce the use of borrowed funds. We are reducing capital expenditures in 2015 and 2016 an additional $ 1 billion and reduced its capital expenditures for 2017 to $ 2.5 billion, which is 55 percent lower compared to our performance in 2014 "- then said Marc Kyutifani.
The head of a diversified group of participants said that the restructuring was a necessary process.
"If we do not adapt, we will die," - he said.
Kyutifani also said that they plan to operate at full capacity in the next two - three years.
Anglo, which owns 85 percent of De Beers, deliberately reduced its production in response to the weakening of the diamond market in 2015.
In October last year, diamond mining giant reduced its planned production volume for the full year to 29 million carats.
He has revised its planned production indicators in July last year to 29 - 31 million carats from previous volumes in the 31 - 32 million carats.
This figure is also revised the original planned production volume, which amounted to 34 million carats in 2015.
De Beers also revealed in December last year that this year it plans to produce between 26 and 28 million carats.
In addition, Kyutifani said that there is also a need for the Government and the private sector to strengthen partnerships to promote development on the continent.
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