RAPAPORT... Global rough-diamond production slumped last year, new data showed, as miners slashed output in response to the Covid-19 pandemic.
The total value of diamond recoveries slid 32% to $9.24 billion in 2020, according to figures the Kimberley Process (KP) released recently. Production volume dropped 23% to 107.1 million carats, while the average price fell 12% to $86 per carat.
De Beers and Russia’s Alrosa saw rough output by volume decline 18% and 22%, respectively, as both companies attempted to match production to the lower demand. Eight of the 10 largest producing countries by value registered a drop in production, with only South Africa and Zimbabwe witnessing increases.
Production in Botswana, De Beers’ largest source of goods, fell 27% to $2.52 billion. Still, the nation jumped ahead of previous leader Russia, where output plummeted 45% to $2.25 billion, reflecting Alrosa’s cuts.
The data release follows the KP’s annual intersessional meeting, which took place late last month.
Rough-diamond production in 2020
| Country |
2020 Production |
Year-on-year change |
| |
Volume (cts.) |
Value ($) |
$/ct. |
Volume |
Value |
$/ct. |
| Botswana |
16,940,705.00 |
$2,521,363,106.00 |
$148.83 |
-28% |
-27% |
3% |
| Russia |
31,186,550.59 |
$2,254,886,568.57 |
$72.30 |
-31% |
-45% |
-20% |
| Angola |
7,734,281.00 |
$1,017,283,207.00 |
$131.53 |
-15% |
-20% |
-5% |
| South Africa |
8,478,398.00 |
$958,497,881.28 |
$113.05 |
18% |
10% |
-7% |
| Canada |
13,103,545.77 |
$929,282,614.88 |
$70.92 |
-30% |
-45% |
-22% |
| Namibia | 1,549,732.48 | $720,378,553.20 | $464.84 | -23% | -29% | -7% | | Lesotho | 481,242.71 | $261,212,515.63 | $542.79 | -57% | -10% | 108% | | Zimbabwe | 2,670,457.62 | $152,597,484.34 | $57.14 | 27% | 8% | -15% | | Sierra Leone | 641,469.10 | $119,434,480.22 | $186.19 | -21% | -29% | -10% |
| Australia |
10,945,135.55 | $117,876,142.53
| $10.77 | -16%
| -26%
| -12%
|
Source: Kimberley Process
Correction, July 11, 2021: A previous version of the table mistakenly omitted Namibia and included the Democratic Republic of Congo.
Image: Haul trucks at De
Beers’ Orapa mine in Botswana. (Ben Perry/Armoury Films/De Beers)
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