Global rough-diamond production slumped last year, new data showed, as miners slashed output in response to the Covid-19 pandemic.

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%
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%
DRC*	12,743,355.19	$89,285,337.96	$7.01	-10%	-61%	-56%

*Democratic Republic of Congo

Source: Kimberley Process

Image: Haul trucks at De Beers’ Orapa mine in Botswana. (Ben Perry/Armoury Films/De Beers)