https://en.sputniknews.africa/20240703/russia-leads-in-diamond-value-surpassing-botswana-for-first-time-since-2019-1067348885.html
Russia Leads in Diamond Value, Surpassing Botswana for First Time Since 2019
Russia Leads in Diamond Value, Surpassing Botswana for First Time Since 2019
Sputnik Africa
Since the first sanctions against Russia over the conflict in Ukraine, G7 countries have targeted Russian diamond exports, and despite warnings of serious... 03.07.2024, Sputnik Africa
2024-07-03T16:37+0200
2024-07-03T16:37+0200
2024-07-03T17:06+0200
russia
botswana
south africa
g7
anti-russian sanctions
lesotho
namibia
sierra leone
southern africa
canada
https://cdn1.img.sputniknews.africa/img/07e7/0a/15/1062981785_0:99:3291:1950_1920x0_80_0_0_aa55b5b97dfd028cde84fc1abee8721d.jpg
Russia remained the top diamond producer last year, accounting for 37.3 million, or 33.5%, of the world's total output in carats for the second time in history. For the first time since 2019, Russia surpassed Botswana in the value of diamonds produced, according to Sputnik calculations based on Kimberley Process data.Among the top producers, Russia uniquely managed to increase the value of its output by 1.5% to $3.6 billion, despite an 11% drop in production volume.In contrast, Botswana increased its production by 2.4% to 25.1 million carats last year, but its value dropped sharply by 30% to $3.3 billion. Canada remained in third place with a 1.7% drop in production to 16 million carats and a 17.5% decline in value to $1.55 billion.Angola moved up from sixth to fourth place in diamond production with an 11.3% increase to 9.75 million carats, but a 22% drop in value to $1.5 billion. The Democratic Republic of Congo rounded out the top five with a 23% reduction in production to 8.35 million carats and a 15% drop in value to $65 million.South Africa reduced its diamond production last year by 39% to 5.9 million carats, and Zimbabwe by 10% to 4.9 million carats. The value of diamonds in both countries also decreased: by 48% to $794 million in South Africa and by 28% to $303.2 million in Zimbabwe. Namibia, which mainly mines diamonds from the ocean, increased its "catch" by 16% to 2.4 million carats, while the value remained nearly unchanged, dropping by only 0.04% to $1.2 billion.The top ten diamond producers were completed by Sierra Leone, where diamond production fell by 24% to 525,000 carats and value dropped by 28% to $103 million, and Lesotho, which produced 472,000 carats worth $139 million, compared to 548,000 carats worth $244 million the previous year.Overall, global diamond production declined by 8% to 111.5 million carats last year, and the value of these diamonds dropped by 20% to $12.7 billion. This production level is the second lowest in history, with the only lower result recorded during the COVID-19 pandemic in 2020 at 107.3 million carats.
https://en.sputniknews.africa/20240406/three-african-countries-demand-g7-review-diamond-certification-mechanism-due-to-unfair-burden-1065937188.html
russia
botswana
south africa
lesotho
namibia
sierra leone
southern africa
canada
angola
democratic republic of the congo (drc)
central africa
north america
west africa
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
2024
Christina Glazkova
https://cdn1.img.sputniknews.africa/img/07e7/0b/07/1063380906_0:0:673:674_100x100_80_0_0_79628b4d0cd9f29291a57aa13bbf9e7a.jpg
Christina Glazkova
https://cdn1.img.sputniknews.africa/img/07e7/0b/07/1063380906_0:0:673:674_100x100_80_0_0_79628b4d0cd9f29291a57aa13bbf9e7a.jpg
News
en_EN
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Christina Glazkova
https://cdn1.img.sputniknews.africa/img/07e7/0b/07/1063380906_0:0:673:674_100x100_80_0_0_79628b4d0cd9f29291a57aa13bbf9e7a.jpg
russia, botswana, south africa, g7, anti-russian sanctions, lesotho, namibia, sierra leone, southern africa, canada, angola, democratic republic of the congo (drc), central africa, north america, west africa
russia, botswana, south africa, g7, anti-russian sanctions, lesotho, namibia, sierra leone, southern africa, canada, angola, democratic republic of the congo (drc), central africa, north america, west africa
Russia Leads in Diamond Value, Surpassing Botswana for First Time Since 2019
16:37 03.07.2024 (Updated: 17:06 03.07.2024) Christina Glazkova
Writer / Editor
Since the first sanctions against Russia over the conflict in Ukraine, G7 countries have targeted Russian diamond exports, and despite warnings of serious consequences for the industry, the G7 agreed last year to expand these sanctions. However, as the data shows, Russia is successfully overcoming them.
Russia remained the top diamond producer last year, accounting for 37.3 million, or 33.5%, of the world's total output in carats for the second time in history. For the first time since 2019, Russia surpassed Botswana in the value of diamonds produced, according to Sputnik calculations based on Kimberley Process data.
Among the top producers,
Russia uniquely managed to increase the value of its output by 1.5% to $3.6 billion, despite an 11% drop in production volume.
In contrast, Botswana increased its production by 2.4% to 25.1 million carats last year, but its value dropped sharply by 30% to $3.3 billion. Canada remained in third place with a 1.7% drop in production to 16 million carats and a 17.5% decline in value to $1.55 billion.
Angola moved up from sixth to fourth place in diamond production with an 11.3% increase to 9.75 million carats, but a 22% drop in value to $1.5 billion.
The Democratic Republic of Congo rounded out the top five with a 23% reduction in production to 8.35 million carats and a 15% drop in value to $65 million.
South Africa reduced its diamond production last year by 39% to 5.9 million carats, and
Zimbabwe by 10% to 4.9 million carats. The value of diamonds in both countries also decreased: by 48% to $794 million in South Africa and by 28% to $303.2 million in Zimbabwe.
Namibia, which mainly mines diamonds from the ocean, increased its "catch" by 16% to 2.4 million carats, while the value remained nearly unchanged, dropping by only 0.04% to $1.2 billion.
The top ten diamond producers were completed by
Sierra Leone, where diamond production fell by 24% to 525,000 carats and value dropped by 28% to $103 million, and
Lesotho, which produced 472,000 carats worth $139 million, compared to 548,000 carats worth $244 million the previous year.
Overall, global diamond production declined by 8% to 111.5 million carats last year, and the value of these diamonds dropped by 20% to $12.7 billion. This production level is the second lowest in history, with the only lower result recorded during the COVID-19 pandemic in 2020 at 107.3 million carats.
