Diamond Production Plunges in 2020
Global rough-diamond production slumped last year, new data showed, as miners slashed output in response to the Covid-19 pandemic.
The total value of diamond recoveries slid 32% to $9.24 billion in 2020, according to figures the Kimberley Process (KP) released recently. Production volume dropped 23% to 107.1 million carats, while the average price fell 12% to $86 per carat.
De Beers and Russia’s Alrosa saw rough output by volume decline 18% and 22%, respectively, as both companies attempted to match production to the lower demand. Eight of the 10 largest producing countries by value registered a drop in production, with only South Africa and Zimbabwe witnessing increases.
Production in Botswana, De Beers’ largest source of goods, fell 27% to $2.52 billion. Still, the nation jumped ahead of previous leader Russia, where output plummeted 45% to $2.25 billion, reflecting Alrosa’s cuts.
The data release follows the KP’s annual intersessional meeting, which took place late last month.
Rough-diamond production in 2020
| Country | 2020 Production | Year-on-year change | ||||
| Volume (cts.) | Value ($) | $/ct. | Volume | Value | $/ct. | |
| Botswana | 16,940,705.00 | $2,521,363,106.00 | $148.83 | -28% | -27% | 3% |
| Russia | 31,186,550.59 | $2,254,886,568.57 | $72.30 | -31% | -45% | -20% |
| Angola | 7,734,281.00 | $1,017,283,207.00 | $131.53 | -15% | -20% | -5% |
| South Africa | 8,478,398.00 | $958,497,881.28 | $113.05 | 18% | 10% | -7% |
| Canada | 13,103,545.77 | $929,282,614.88 | $70.92 | -30% | -45% | -22% |
| Namibia | 1,549,732.48 | $720,378,553.20 | $464.84 | -23% | -29% | -7% |
| Lesotho | 481,242.71 | $261,212,515.63 | $542.79 | -57% | -10% | 108% |
| Zimbabwe | 2,670,457.62 | $152,597,484.34 | $57.14 | 27% | 8% | -15% |
| Sierra Leone | 641,469.10 | $119,434,480.22 | $186.19 | -21% | -29% | -10% |
| Australia | 10,945,135.55 | $117,876,142.53 | $10.77 | -16% | -26% | -12% |
Source: Kimberley Process
Correction, July 11, 2021: A previous version of the table mistakenly omitted Namibia and included the Democratic Republic of Congo.
References
