• Latest
  • Trending
  • All
Global diamond production to grow by 1.4% in 2021

Global diamond production to grow by 1.4% in 2021

September 17, 2021
Ban on exports causes massive Lithium build up in Zimbabwe, off-take agreements threatened

Ban on exports causes massive Lithium build up in Zimbabwe, off-take agreements threatened

March 21, 2023
Gold Fields, AngloGold joint venture creates Africa’s largest gold mine in Ghana

Gold Fields, AngloGold joint venture creates Africa’s largest gold mine in Ghana

March 20, 2023
Nigeria launches digital mineral title platform

Nigeria launches digital mineral title platform

November 12, 2022
South Africa’s mining industry posts 4th consecutive quarter of production decline.

Concern rises over South Africa’s coal addiction

September 8, 2022
Sabodala-Massawa, Senegal’s largest gold mine set to increase production

Sabodala-Massawa, Senegal’s largest gold mine set to increase production

September 6, 2022
Nigeria discovers commercial quantity high grade lithium, woos investors

Nigeria discovers commercial quantity high grade lithium, woos investors

September 4, 2022
Low nickel prices halt reopening of ARM’s Nkomati mine

Low nickel prices halt reopening of ARM’s Nkomati mine

September 3, 2022
China, Australia battle for control of massive untapped lithium lode in the Democratic Republic of Congo

Nigeria moves to develop her battery minerals

September 2, 2022
Nigeria, Africa & the $8 Trillion Global Gold Market

Six killed in Burkina Faso gold convoy attack

August 29, 2022
South Africa’s mining industry posts 4th consecutive quarter of production decline.

South Africa’s mining industry posts 4th consecutive quarter of production decline.

August 27, 2022
Asante Gold begins operations at Bibiani mine processing plant

Nigeria, Africa & the $8 Trillion Global Gold Market

August 22, 2022
Platinum-rich Zimbabwe announces new taxes on platinum and lithium

Platinum-rich Zimbabwe announces new taxes on platinum and lithium

July 29, 2022
  • About
  • Advertise
  • Privacy Policy
  • Contact
Wednesday, March 22, 2023
  • Login
African Mining & Minerals
  • HOME
  • CENTRAL AFRICA
    • ANGOLA
    • CAMEROON
    • CENTRAL AFRICAN REPUBLIC
    • CHAD
    • CONGO, REPUBLIC OF (BRAZZAVILLE)
    • DEMOCRATIC REPUBLIC OF CONGO (KINSHASA)
    • EQUATORIAL GUINEA
    • GABON
  • EAST AFRICA
    • BURUNDI
    • COMOROS
    • DJIBOUTI
    • ERITREA
    • ETHIOPIA
    • KENYA
    • MADAGASCAR
    • MALAWI
    • MAURITIUS
    • MAYOTTE
    • MOZAMBIQUE
  • NORTH AFRICA
    • EGYPT
    • LIBYA
    • MAURITANIA
    • MOROCCO
    • TUNISIA
    • WEST SAHARA
    • ALGERIA
  • WEST AFRICA
    • BENIN
    • BURKINA FASO
    • CAPE VERDE
    • CÔTE D’IVOIRE
    • THE GAMBIA
    • GHANA
    • GUINEA
    • GUINEA-BISSAU
    • LIBERIA
    • MALI
    • NIGER
    • NIGERIA
    • SENEGAL
    • SIERRA LEONE
    • TOGO
  • SOUTHERN AFRICA
    • BOTSWANA
    • ESWATINI (SWAZILAND)
    • LESOTHO
    • NAMIBIA
    • SOUTH AFRICA
  • MINES
  • MINERALS
  • TRADING
  • TECHNOLOGY
  • BENEFICIATION
  • TRAINING
  • ENVIRONMENT
  • COMPANIES
  • CONTRACTS
  • FINANCE
  • MARKETS
  • FINISHED PRODUCTS
  • EVENTS
  • CONTACT US
African Mining & Minerals
No Result
View All Result
Home Markets

Global diamond production to grow by 1.4% in 2021

by Udenna Orji
September 17, 2021
in Markets, Minerals
0
Global diamond production to grow by 1.4% in 2021
499
SHARES
1.4k
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

Global diamond production to grow by 1.4% in 2021

Sep 2, 2021

Global rough diamond production is expected to recover by 1.4% to reach 112.99 million carats (Mct) in 2021, after registering an estimated 19.4% decline to 111.4 Mct in 2020, owing to the COVID-19 pandemic, according to GlobalData. The leading data and analytics company notes that significant recoveries in output are expected in Botswana (+37%), Canada (+16.6%) and Angola (+26.3%).

Vinneth Bajaj, Associate Project Manager at GlobalData, comments: “Global output will only marginally increase due to the closure of the Argyle mine in Australia in November 2020, alongside only moderate growth in Russia. Overall, production over the forecast period (2021–2025) is expected to grow at a compound annual growth rate (CAGR) of 2.5%, to reach 124.8Mct in 2025.”

In 2020, the COVID-19 pandemic hammered the global diamond market, which was already struggling due to several factors such as the then ongoing US-China trade war and the political instability in Hong Kong, one of the chief locations for trading diamonds. As a result of the pandemic, operating activities and cross-border movement were severely disrupted.

Bajaj continues: “During Q1 2020 China was the worst affected, however, it was also the fastest to recover after the setback from the pandemic. Chine became a key driver for the balanced global demand for diamonds.

“Elsewhere, the gradual easing of restrictions improved market conditions and reinforced demand across the global supply chain. Demand in key consuming markets, including the US and China, recovered towards the end of 2020.”

Meanwhile, production in Botswana was affected the most by the pandemic, reporting a significant 28.5% fall to 16.9Mct in 2020. The fall was primarily due to the continued planned reductions in response to the lower demand for rough diamonds caused by COVID-19 and operational challenges at Debswana’s Orapa mine, which led to lower-than-expected output.

Bajaj continues: “Looking ahead, owing to the mines returning to operations and the demand showing signs of recovery, the country’s production of rough diamonds is expected to bounce back, rising by 37%, to reach 23.2Mct in 2021, before declining by 2.2% in 2022, linked to the closure of Damtshaa mine (2022), and then remain relatively flat over the rest of the forecast period. Meanwhile, Debswana Diamond, Botswana’s largest producer, anticipates production recovering to pre-COVID levels between 2021 and 2023.”

Russia, which holds some of the world’s largest diamond deposits, is expected to remain the world’s largest supplier. With potential new diamond mines, Botswana, Canada and the DRC are also expected to remain prominent suppliers of rough diamonds to global markets. Furthermore, Angola will emerge among the top five producers globally, and eventually surpass the DRC to become the fourth largest towards the latter part of the forecast period.

Bajaj adds: “Production in Australia will continue to decline, owing to the depleting ore reserves at the Argyle mine, which commenced in 1983 and then ceased production in November 2020. Given the Ellendale mine is currently idled, Australia’s diamond production effectively ceased at the end of 2020.

“However, the Australian diamond industry may be revived due to the emergence of several mining companies currently conducting various exploration activities to nurture potential diamond deposits. Furthermore, as of May 24 2021, Lucapa Diamond entered into a binding agreement to acquire the Merlin mine from Merlin Diamonds, offering some hope of restarting the Australian diamond industry after the closure of Argyle. Additionally, to attract investments in diamond mining, the Northern Territory government also reduced precious stone’s royalty rate to 5% in July 2020, a 2.5% reduction compared to the previous rate of 7.5%.”

Share200Tweet125Send
Udenna Orji

Udenna Orji

  • Trending
  • Comments
  • Latest
The History of Mining in Africa

The History of Mining in Africa

October 5, 2020
SPECIAL REPORT ON NIGERIA

Top 10 Risks and Opportunities for the Mining Sector in 2021

April 12, 2021
Nigeria moves to become West Africa’s largest steel producer

Nigeria moves to become West Africa’s largest steel producer

June 25, 2020
The DRC and China’s Sicomines: why future deals should be different

The DRC and China’s Sicomines: why future deals should be different

2

Buy, Rent or Lease- Homes, Offices or Lands NIGERIA

0

PMI Limited: Your energy partner for success

0
Ban on exports causes massive Lithium build up in Zimbabwe, off-take agreements threatened

Ban on exports causes massive Lithium build up in Zimbabwe, off-take agreements threatened

March 21, 2023
Gold Fields, AngloGold joint venture creates Africa’s largest gold mine in Ghana

Gold Fields, AngloGold joint venture creates Africa’s largest gold mine in Ghana

March 20, 2023
Nigeria launches digital mineral title platform

Nigeria launches digital mineral title platform

November 12, 2022
African Mining & Minerals

Copyright © 2020 African Mining and Minerals.Com. A PAN MEDIA COMPANY ABUJA, NIGERIA.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

No Result
View All Result
  • HOME
  • CENTRAL AFRICA
    • ANGOLA
    • CAMEROON
    • CENTRAL AFRICAN REPUBLIC
    • CHAD
    • CONGO, REPUBLIC OF (BRAZZAVILLE)
    • DEMOCRATIC REPUBLIC OF CONGO (KINSHASA)
    • EQUATORIAL GUINEA
    • GABON
  • EAST AFRICA
    • BURUNDI
    • COMOROS
    • DJIBOUTI
    • ERITREA
    • ETHIOPIA
    • KENYA
    • MADAGASCAR
    • MALAWI
    • MAURITIUS
    • MAYOTTE
    • MOZAMBIQUE
  • NORTH AFRICA
    • EGYPT
    • LIBYA
    • MAURITANIA
    • MOROCCO
    • TUNISIA
    • WEST SAHARA
    • ALGERIA
  • WEST AFRICA
    • BENIN
    • BURKINA FASO
    • CAPE VERDE
    • CÔTE D’IVOIRE
    • THE GAMBIA
    • GHANA
    • GUINEA
    • GUINEA-BISSAU
    • LIBERIA
    • MALI
    • NIGER
    • NIGERIA
    • SENEGAL
    • SIERRA LEONE
    • TOGO
  • SOUTHERN AFRICA
    • BOTSWANA
    • ESWATINI (SWAZILAND)
    • LESOTHO
    • NAMIBIA
    • SOUTH AFRICA
  • MINES
  • MINERALS
  • TRADING
  • TECHNOLOGY
  • BENEFICIATION
  • TRAINING
  • ENVIRONMENT
  • COMPANIES
  • CONTRACTS
  • FINANCE
  • MARKETS
  • FINISHED PRODUCTS
  • EVENTS
  • CONTACT US

Copyright © 2020 African Mining and Minerals.Com. A PAN MEDIA COMPANY ABUJA, NIGERIA.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In