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Global rough diamond output soars in 2017

11 july 2018

news_11072018_KP.pngThe Kimberley Process (KP) said global rough-diamond production leaped 19 percent to 151 million carats in 2017.
Output also jumped 29 percent in value terms to $15.87 billion last year.
Russia remained the largest producer as it recorded an output of $4.11 billion in value terms and 42.6 million carats in volume terms.
Canada overtook Botswana as the second diamond producer by volume as its output rose 78 percent to 23.2 million carats.
Botswana produced 23 million carats.
The southern African country, however, remained as the second largest producer by value as it recorded an output of $3,33 billion in 2017 compared to Canada’s $2.06 billion.
South Africa was ahead of Canada in terms of value as it recorded a 147 increase in output to $3.09 billion thanks to improved average price of its stones that jumped 113 percent to $319 per carat.
South Africa’s output by volume was 9,7 million carats putting it behind the Democratic Republic of Congo (DRC)’s 19 million carats and Australia’s 17,1 million carats.
Meanwhile, KP said global rough imports leaped 3 percent to $50 billion for the year, with total volume up 28 percent to 490 million carats.
However, the average price of imports eased 20 percent to $102 per carat.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished