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Lucapa’s Wetherall on the past, present and the future

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India’s gem and jewellery industry expects the government will consider its demand for lower import duty on raw materials

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25 march 2019

Global rough diamonds sale to cutting centres reaches $16.6bn – De Beers

14 september 2018
news_26072018_debeers.pngRough diamond sales to cutting centres increased by 2 percent to $16.6 billion last year, according to De Beers’ 2018 diamond insight report.
The group said it remained the largest rough supplier in 2017, but with a reduced share of 34 per cent from 37 per cent in 2016.
Alrosa’s share also decreased in 2017 to 25 percent of total sales from 27 per cent in 2016, it said.
De Beers said, without providing data, that sales of rough diamonds to cutting centres in the first half of 2018 were higher than the same period in 2017.
“Alrosa destocked 7 million carats in the first half to report an 8 percent increase in rough diamond revenues,” it said.
“While De Beers Group’s sales were lower in volume terms, sales values to cutting centres were maintained by higher prices and an improved mix.”
Meanwhile, the group said global diamond production values were estimated at $17.5 billion in 2017, a 15 percent increase on 2016.
“In volume terms, production increased 14 percent to 164 million carats. De Beers Group accounted for the largest increase in production volumes (+6.1 million carats), followed by Rio Tinto (+3.7 million carats) and Alrosa (+2.3 million carats).”
Russia retained its position as the largest producer country in carat and value terms.
Total diamond production in 2018 was expected to fall slightly from 2017 levels, due largely to Alrosa’s suspension of operations at the Mir mine and Rio Tinto’s guided fall in production at its operations.

Mathew Nyaungwa, Rough&Polished