Diamond Industry Updates Cover Industrial Use of Diamond
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Diamond Industry Updates Show Visible Fall in Diamond Value

1990: Diamond Industry Updates Consist Of Instable Diamond Market Position

August 1997

Total world diamond production came to 117 million carats which was valued at $7 billion. This dollar value, of course, represents diamonds in the rough stage, but, it is worth noting, the retail value of diamond jewelry is several times this amount. Total 1996 world diamond production rose 6% over 1995 and 7% in gem production. (These figures can be expected to rise further next year when BHP is slated to open the first major diamond mine in years - in its joint venture with Dia-Met in Canada's Northwest Territories.) The largest 1996 increase in gem production is in Angola with a gain of more than 3 million carats in gem quality diamonds over 1995 production. Overall Russian production increased by 500 million carats, but, it must be noted, that this is only a very rough estimate due to the local secrecy law imposed in 1995 which prohibits disclosure of precise diamond production in Russia. (Table shown in 1000s of cts.) Gem is defined as cuttable vs. diamonds for industrial use. (Source: Diamond Registry based on U.S. Geological Survey data)

Country

------------------------1994------------------------ -----------------------1995------------------------ -----------------------1996-----------------------
 

Gem

Industrial

Total

Gem

Industrial

Total

Gem

Industrial

Total

Angola 270 30 300 450 50 500 3,600 400 4,000
Australia 19,485 23,815 43,300 18,312 22,381 40,693 18,897 23,096 41,993
Botswana 10,550 5,000 15,550 11,502 5,300 16,802 11,000 5,000 16,000
Brazil 600 900 1,500 600 900 1,500 700 600 1,300
C. African Republic 400 131 531 400 130 530 350 120 470
China 230 850 1,080 230 900 1,130 230 900 1,130
Gabon 400 100 500 400 100 500 400 100 500
Ghana 580 145 725 580 145 725 125 505 630
Namibia 1,312 - 1,312 1,382 - 1,382 1,300 - 1,300
Russia 8,500 8,500 17,000 9,000 9,000 18,000 9,250 9,250 18,500
Sierra Leone 155 100 255 113 100 213 162 108 270
S. Africa 4,340 5,343 9,683 4,300 5,383 9,683 5,360 6,000 11,360
Venezuela 203 214 417 229 64 293 230 60 290
Zaire 4,000 13,000 17,000 4,000 13,000 17,000 3,000 15,000 18,000
Other 333 221 554 363 246 609 813 464 1,277
Grand Total 51,400 58,300 110,000 51,900 57,700 110,000 55,400 61,600 117,000
 

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