Global Diamond Production Value Rises

RAPAPORT... Global rough-diamond output grew 2% to $14.47 billion lastyear, reflecting higher production in Botswana, according to data the KimberleyProcess (KP) released last week.The average price increased 4% to $97 per carat, outweighinga 2% decline in production volume to 148.4 million carats, the figures showed. Russia remained the world's principal source of rough, despiteits recoveries falling 3% to $3.98 billion. Botswana was largely responsiblefor the overall increase in value, with the nation's output rising 6% to $3.53billion for the year. Production in Canada increased 2% to $2.1 billion. Volume downThe decline in global production volume mirrors a slump insupply from the Argyle mine in Australia. Production in the country fell 18% to14.1 million carats, according to the KP, matching data for Argyle providedearlier this year by its owner, Rio Tinto.Botswana, which offers higher-value goods than most otherlarge producing countries, saw 2018 output volume rise 6% to 24.4 millioncarats, reflecting a similar increase in production at Debswana, De Beers'joint venture with the Botswana government. Meanwhile, Botswana overtook Canada as the second-largestproducer by volume, after dropping into third place in 2017.Top 10 Rough Producers in 2018

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