Never miss an important update
Click to get notified about important updates only.
Opportunities are Infinite
Miner reports on diamond production in 2018
About 2 to 4 per cent of increase in diamond demand is possible in the year but the global diamond supply is expected to contract by 2.5 per cent in 2018.
The Mining Review Africa (Edition 5, 2018 article) and the Zimnisky Global Rough Diamond Price Index suggests the total global diamond supply by volume mined increased year-by-year (by 13.1 per cent). The top diamond miners De Beers will have an increase in production and its diamond output will be more in the year 2018 as compared to previous year, but the miners Rio Tinto and ALROSA will have lower diamond production as compared to previous year. The three companies are responsible for 70 per cent of diamond produce globally.
It is estimated the total production by De Beers will be 35.2 million carats (US$5.7 billion value in 2018) and this is adequate to maintain the industry status, in terms of, value.
The estimated production of Jwaneng will be 13.5 million carats as compared to 11.9 million carats in 2017. By value, the mines supplies 17 per cent of the total global diamond on annual basis and it owns an average resource of 350 million carats.
In 2018, De Beers is expected to produce 95 per cent of its capacity, due to the strategy of producing on demand.
Also, the company is starting an alternative in lab grown diamonds for those who want to purchase diamonds at a low cost as compared to natural diamonds, although, the price tag of such lab grown diamond could go beyond $800 for a carat.
ALROSA produces highest in volume and its output will be 36.6 million carats in the year, down from 39.5 million carats in 2017.
The largest mining site of ALROSA is Jubilee, where production will reduce from 10.1 million carat to 8.2 million carats. The production is, further, expected to decline.
ALROSA owns 41 per cent stake in joint venture Catoca (in Angola), which is, estimated to produce 6.6 million carats of diamond in the current year.
Angola diamond mining issues
Angola is the 5th largest producer of diamond but the miners complain - the stones are sold at a lower price as compared to the international market prices. The country’s mines remain unexplored due to 27 years of civil war and the closed business environment. The government is planning to announce new regulations related to diamond mining.
Russia’s ALROSA is the major diamond producer in Angola, and it exports 70 per cent of its diamonds to the UAE.
The third largest producer of diamond is Rio Tinto that has two diamonds mines – 100 per cent owned mine in Australia, and 60 per cent stake in Canada mine - Diavik.
About 76 per cent of the produce comes from Argyle – one of the largest mines producing highest volume, in carats but the production quality is low. The mine produces fancy colour diamonds and the production of mines is expected to decrease in the year. Argyle mine production is expected to end in 2020.
Zimbabwe Consolidated Diamond Company
Lately, the state diamond mining, Zimbabwe Consolidated Diamond Company claimed it will invest $400 million to target production of at least 10 million carats of diamond in the next four years by 2023.
Get more information about precious gems, diamonds, mining and investment, check 99Alternatives (www.99alternatives.com).
What is better Silver or Sterling Silver? We all know...
How much does Twitch Streamers Make? Man is fun-loving...
Shorting a stock is one of the most outstanding...
PayPal is a world leader that allows any business or...
PayPal is a digital commerce employer that enables...
We all keep purchasing and selling various products...
Copyright © 2021 99alternatives Ltd. All rights reserved.
Designed and Managed by Mont Digital