Diamonds production decreases worldwide increasing their value

Last year, global diamonds production decreased by two percent, reaching 148.4 million gross carats. Consequently, increasing its value by 2%, reaching a figure of 14.47 billion dollars.

Diamonds production decreases

These surprising figures have lead us to ask ourselves what was the main cause of this change. Well, it appears the main cause lies in the decline of the Australian Argyle mine.

A setback that has resulted in a decrease of 18% of production, standing at 14 million carats, and that will result in the closure of what has been considered one of the most important mines in the world due to the depletion of resources. The mine is already in the process of closing and it is expected to close its doors definitively some time in 2020.

Another factor to take into consideration when looking at the decrease in production, leading Russian mining operations are also in decline. A fall specifically of 3%, with a global production of 43.2 million carats; followed by Botswana with 24.3 million carats.

This data has just been made public by the Kimberley Process certification system: a certification system that oversees the exports and imports of rough diamonds.



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