- Australia’s diamond production declined 26.6 percent to 11.14 million carats in fiscal 20019-2010. The country exported 10.36 million carats valued at A$345 million (US$326.2 million). Preliminary Figures for the first quarter of this year shows a significant rise in production and exports.
Australia's exports in the fiscal year ending June 30, fell 36.4 percent in volume and 49 percent in value compared to the previous year. The average value of exports declined 19.8 percent to US$31.50 per carat.
Australia also imported diamonds, A$442 million (US$417.9 million) worth of goods, a 6 percent year over year increase, according to figures released Tuesday by the Australian Bureau of Agricultural and Resource Economics – Bureau of Rural Sciences (ABARE–BRS).
Private mineral exploration expenditure totaled A$3.7 million (US$3.5 million) a 63 percent decrease from the prior year.
Diamond production in the September ending quarter totaled 10.63 million carats, soaring 355 percent, from last year, according to preliminary figures released by ABARE-BRS. The significant increase in production in the September quarter is explained by higher production from Rio Tinto.
Total diamond exports in the quarter totaled an estimated 10.63 million carats worth A$372 million (US$351.7 million), an average value of US$33.09 p/c. This translates into a 5 percent forecasted rise in average value.
Australia has one main diamond mine, Rio Tinto’s Argyle mine. The miner recently decided to proceed with a plan to extend the life of the mine by turning to an underground operation.
(Last update September 23, 2010)
