Despite De Beers and Rio’s efforts, global diamond output to jump 1.3% this year – Mining.com

Feb. 1, 2016

A concerted effort by De Beers and Rio Tinto (LSE: RIO) to limit global diamond supply is forecast to be offset by stable Russian production, new mines, and production increases by Dominion Diamond Corp (TSX: DDC) and Petra Diamonds (LSE: PDL).

Despite De Beers and Rio’s efforts, 2016 global diamond production by-volume is forecast to be 137 million (M) carats, or +1.3% over 2015 estimates. However, the impact of strategic production cuts are more apparent on a value-produced basis, as curtailments at De Beers’ high-value mines in particular, and lower diamond price offerings across the industry, reduce global diamond production by-value forecasts to $12.6 billion in 2016, or -10.0% relative to 2015 estimates.

Read More: http://www.mining.com/web/despite-de-beers-and-rios-efforts-global-diamond-output-to-jump-1-3-this-year/