Daily Management Review

Russia Took the 1st place at the Cost of Mined Diamonds


08/27/2015


Russia is ahead of Botswana on the total value of the diamonds produced and now is holding the 1st place in the world - follows from the statistics of Kimberley Process Certification Scheme (KPCS).



At the same time, Botswana still leads in the average price per carat. Russia, which has traditionally lagged behind Botswana with price for diamonds mined, in 2014 has taken a leading position in both categories.

Valuation of diamonds produced in Russia increased in 2014 by 20% to $ 3.73 billion, the average price per carat - 19% to $ 97.47. The data reported in February by the Ministry of Finance of the Russian Federation.

Valuation of Russian diamonds, used by the Ministry of Finance, is close to the insurance cost that is significantly lower than the actual market prices (though the numbers suggest the dynamics of prices on the market and for rough gems).

Methods of assessing may vary in each country - member of the association, as a common price list does not exist.

The rating of diamonds produced in Botswana last year - $ 3.65 billion, which hangs at the level of 2013, told Rapaport.

Average price - $ 147.84 per carat, which is 5% lower yoy, due to the fact that at constant evaluation, the release of diamonds increased by 6% to 23.187 million carats. The main producer of diamonds in Botswana is a Debswana, which is owned on a parity basis between De Beers and the government of this country.

Third place in the world for the cost of diamonds in 2014 comes to Canada, the gems obtained in the territory of which are estimated at $ 2 billion (an increase of 5% on an annualized basis). The production volume rose by 13% to 12.011 million carats. The average price, on the contrary, decreased by 7% to $ 166.78 / carat.
 
Angola produced diamonds for $ 1.32 billion (an increase of 13%) in 2014. The volume of production increased by 2% to 8.791 million carats. The top five of South Africa, which obtained 7.43 million carats of diamonds valued at $ 1.22 billion (an increase of 3%). Other major producers - Zimbabwe (4.771 million carats, the cost - $ 238.6 million) and Namibia (1.917 million carats, the cost - $ 1.16 billion).

The most expensive diamonds are manufactured in Lesotho. The average price of a diamond in the African country in 2014 increased by 69% to $ 990.18 per carat. In second place Namibia ($ 602.57 per carat), but its raw materials prices fell by 25% in 2014.

World diamond production fell by 4% in 2014 to 124.778 million carats, in monetary terms - rose by 4% to $ 14.5 billion. The average price per carat has increased by 8% to $ 116.17 per carat.

Total diamond exports Association participating countries increased by 6% to $ 58.12 billion. Total imports also increased - by 5% to $ 56.63 billion.

The largest importer is India, the main center of production of diamonds. Imports to India increased by 8% in value, reaching $ 17.21 billion at the drop of 4% in carats (up to 153 609 000 carats). The main exporters - EU (including Belgium), which brought 116 017 000 carats, valued at $ 15.71 billion (down 10%).

source: Rapaport






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