Rough diamond image: Alrosa

Global rough diamond production increased in 2017, mainly due to new mines in Canada, according to data the Kimberley Process (KP) released last week.

Total output rose 29% to $15.87 billion last year, the KP said. By volume, production grew 19% to 150.9 million carats, with the average price up 8% to $105 per carat.

Russia remained the largest producer of rough diamond in 2017, its output jumping 15% to $4.11 billion, and advancing 6% by volume to 42.6 million carats.

Diamond recovery in Canada grew 47% to $2.06 billion, with volume up 78% to 23.2 million carats, thus overtaking Botswana as the second-largest producer country by volume. Canada’s production was boosted by the addition of the Gahcho Kué and Renard mines, which both launched in late 2016. Meanwhile, Botswana’s output rose 17% to $3.33 billion, and by volume climbed 12% to 23 million carats.

South Africa took the third spot for production value, with a 147% surge to $3.09 billion, helped by a sharp rise in the average price by 113% to $319 per carat.

Global rough imports increased 3% to $49.85 billion for the year, with total volume up 28% to 489.9 million carats. The average price of imports dropped 20% to $102 per carat. India ranked as the largest importer of rough diamonds during the year, with inbound shipments rising 31% to $18.98 billion, while volume increased 40% to 195 million carats. The European Union (EU) — mainly Belgium — took the second spot, with the United Arab Emirates (UAE) following in third place.

Exports of rough diamonds went up 3% to $49.94 billion, and by volume rose 18% to 453.6 million carats. The overall average price of rough exports fell 13% to $110 per carat. Exports from the EU fell 3% to $12.68 billion but leaped 27% by volume to 129.2 million carats, making it the largest center for outbound shipments, followed by the UAE, Botswana and Russia.

Top 10 Rough Producers in 2017 (in M USD)

  1. Russia $4,112
  2. Botswana $3,329
  3. South Africa $3,089
  4. Canada $2,060
  5. Angola $1,105
  6. Namibia $1,011
  7. Lesotho $343
  8. Australia $200
  9. Zimbabwe $175
  10. DR Congo $157

Top Five Rough Importers in 2017 (in M USD)

  1. India $18,977
  2. European Union $12,183
  3. United Arab Emirates $6,925
  4. Israel $3,658
  5. Botswana $1,983

Top Five Rough Exporters in 2017 (in M USD)

  1. European Union $12,677
  2. United Arab Emirates $9,757
  3. Botswana $5,548
  4. Russia $4,429
  5. Israel $3,011

Source: Kimberley Process

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