|
|
Global Rough Production Reaches a Plateau
Jul 31, 2012 2:01 AM
By Dilipp S Nag
|
|
|
RAPAPORT... Global rough diamond production has plateaued with declining output at the world’s major mines and no significant new sources, according to a report by Metals Economics Group (MEG).
MEG noted that only two relatively small new projects were commissioned in the past year and despite higher prices for rough goods, both are struggling as their overseers work to achieve full production. Five other new mines and expansion projects are scheduled to launch between 2013 and 2015, which are projected to add approximately 6.7 million carats per year to global production, the report noted.
MEG added that mine feasibility and the development of reserves are being carried out on 20 diamond projects worldwide in 2012.
Among the reported active resources, Canada hosts 48 percent of the total contained diamonds in four deposits and Russia holds 24 percent with four deposits, while India and Lesotho have 9 percent each in one deposit, respectively. South Africa has 5 percent in five deposits, Australia has 4 percent in three deposits and Guinea and Brazil each have one active project containing less than 1 percent of the total.
MEG estimated that global diamond exploration budgets increased 26 percent in 2011. Russia was the top exploration target accounting for 27 percent of the total diamond budget while Canada was second with 26 percent. They were followed by Angola with 13 percent, India with 8 percent, Botswana with 6 percent and South Africa with 5.6 percent, according to the report.
|
|
|
|
|
|
|
|
|
|
Tags:
Angola, Australia, Botswana, brazil, Canada, diamond, Dilipp S Nag, exploration, Guinea, India, Lesotho, MEG, Metals Economics Group, mines, Rapaport, rough, Rough Diamonds, Rough Production, Russia, South Africa
|
|
|
|
|
|
|
|
|
|
|
|
|