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Global Diamond Production Value Rises
Jul 7, 2019 11:00 AM
By Rapaport News
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RAPAPORT... Global rough-diamond output grew 2% to $14.47 billion last
year, reflecting higher production in Botswana, according to data the Kimberley
Process (KP) released last week.
The average price increased 4% to $97 per carat, outweighing
a 2% decline in production volume to 148.4 million carats, the figures showed.
Russia remained the world’s principal source of rough, despite
its recoveries falling 3% to $3.98 billion. Botswana was largely responsible
for the overall increase in value, with the nation’s output rising 6% to $3.53
billion for the year. Production in Canada increased 2% to $2.1 billion.
Volume down
The decline in global production volume mirrors a slump in
supply from the Argyle mine in Australia. Production in the country fell 18% to
14.1 million carats, according to the KP, matching data for Argyle provided
earlier this year by its owner, Rio Tinto.
Botswana, which offers higher-value goods than most other
large producing countries, saw 2018 output volume rise 6% to 24.4 million
carats, reflecting a similar increase in production at Debswana, De Beers’
joint venture with the Botswana government.
Meanwhile, Botswana overtook Canada as the second-largest
producer by volume, after dropping into third place in 2017.
Top 10 Rough Producers in 2018
| Country |
Value ($M) |
Volume (’000 carats) |
Average price ($/ct.) |
| Russia |
$3,983 |
43,161 |
$92 |
| Botswana |
$3,535 |
24,378 |
$145 |
| Canada |
$2,098 |
23,194 |
$90 |
| South Africa |
$1,228 |
9,908 |
$124 |
| Angola |
$1,224 |
8,409 |
$146 |
| Namibia |
$1,125 |
2,397 |
$469 |
| Lesotho |
$377 |
1,294 |
$291 |
| Zimbabwe |
$210 |
3,255 |
$65 |
| Australia |
$181 |
14,069 |
$13 |
| Sierra Leone |
$157 |
742 |
$212 |
Image: Rough diamonds. (Shutterstock)
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Tags:
Angola, Australia, Botswana, Canada, Kimberley Process, KP, Lesotho, mining, Namibia, Rapaport News, Rough Diamonds, Russia, Sierra Leone, South Africa, Zimbabwe
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