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Articles from DIAMONDS BY CUT - BRILLIANT (ROUND) (285 Articles)

Russia's diamond output in 2014 was higher than Botswana both in terms of volume and value
Russia's diamond output in 2014 was higher than Botswana both in terms of volume and value

Russia outpaces Botswana in diamond race

Recent figures have not only provided insight into overall global diamond production but have also showed Russia surpassing Botswana as the largest diamond-producing region in 2014.

According to rough diamond statistics released by the Kimberley Process, global diamond output rose 4 per cent in value from US$14 billion (AU$20.2 b) in 2013 to US$14.5 billion (AU$20.9 b) in 2014.

Production volumes dropped 4 per cent to 124.8 million carats.

Prior to last year, Botswana had recorded the highest production value in terms of US dollars since 2009. However, during 2014, the Russian Federation outperformed Botswana both in terms of diamond production volume and value.

Russia produced 38.3 million carats in 2014, accounting for 31 per cent of global production volumes. While this represented a 1 per cent increase in production from the previous year, the country’s total output value jumped 20 per cent to US$3.7 billion (AU$5.4 b) as the value per carat rose from US$82 (AU$118) to US$97 (AU$140).

In terms of value in 2014, Russia accounted for 26 per cent of global diamond production.

Meanwhile, Botswana produced 20 per cent of the world’s rough diamonds in 2014, totalling 24.7 million carats, which was up 6 per cent from the previous year. It should be noted, however, that the region’s stones fetched a higher price per carat – US$147 (AU$212) – than Russia.

Botswana achieved US$3.65 billion (AU$5.3 b) in terms of value, 1 per cent up from US$3.63 billion (AU$5.2 b) in 2013 and representing 25 per cent of total global production value.

Debswana, said to be the world’s leading diamond producer by value, is the main diamond mining business operating in Botswana. The company is a joint venture between De Beers Group and the Government of the Republic of Botswana.

Alrosa is the main diamond producer in the Russian market, operating in ten regions of Russia as well as across nine countries.

The Kimberley Process 2014 figures indicated that the Democratic Republic of Congo was the world’s third-largest diamond producer in terms of volume, with Canada and Australia falling in fourth and fifth position, respectively.

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