Diamond Export & Production News
Canada, Russia, Israel and India release statistics
Canada Third in Diamond Production
Canada has become the third largest producer of diamonds in the world behind Botswana and Russia, says Statistics Canada, a government agency. From 1998 to 2002, companies have mined about 13.8 million carats of these precious stones of pure carbon, collectively worth $2.8 billion, says the agency. That amounts to about 15% of the worlds supply of diamonds.
In the first six months of 2003, Canadas trade in diamonds was worth just over $720 million, of which exports accounted for 81%, according to Statistics Canada. The agencys figures come from BHP Billiton Diamonds Inc., Diavik Diamond Mines Inc. and Aber Diamond Mines Ltd., which signed waivers allowing publication of their statistics on production, employment, capital investment and trade.
Alrosa Plans U.S. Office, Increase in Sales in 2004
Alrosa, Russias diamond monopoly that provides about one-fourth of the worlds diamond supply, has made a series of moves according to the Rapaport Report. First, the producer is opening a U.S. office this year to serve a representative function only, though in the future it might sell diamonds.
It also was reported in Russian newspapers that Alrosa will increase its rough diamonds sales by 14% worldwide this year to counteract the falling U.S. dollar. Unconfirmed reports mention Alrosa will begin to supply diamond manufacturer Rosy Blue and that its in negotiations to market its cut stones through Tiffany & Co. and Cartier.
A Russian news agency reported that Alrosas diamond sales to De Beers, still its top customer, were down 25% last year, but Alrosa says De Beers remains its top priority. Both parties are still waiting for the European Commission to ratify their latest trade agreement, which is now more than 2 years old.
Israels Polished Diamond Exports Rise 6% in 2003
Net polished diamond exports rose 5.9% to $5.532 billion in 2003, says Israels Ministry of Industry & Trade. Net polished exports for December 2003 increased 31.7% to $350.2 million.
In 2003, the U.S. remained the largest market for Israels polished exports, accounting for 67%. Gross sales to the U.S. totaled $5.995 billion, up from $5.705 billion in 2002.
LLD Diamond was named top Israeli exporter of 2003, sending $570 million worth of polished diamonds to other countries, up 11% from 2002. The second top exporter was Schachter & Namdar Polishing, followed by Fabrikant Salant, Espeka Diamonds Israel and Dalumi A. Diamonds. We look forward to 2004, which economists are predicting will be an even better year for the world economy, says Simcha Lustig, chairman of the Israel Diamond Institute.
IDI will expand its participation in trade shows, establishing Israel diamond pavilions in exhibitions in Japan and China and in new shows in the U.S. and Hong Kong. The institute also is working to secure new rough diamond supplies through De Beers Diamdel, Canada, Australia and producing countries in Africa.
In the area of technology, IDI is pursuing research and development activities to raise manufacturing efficiency and lower costs.
Indian Exports Skyrocket
Indias exports of gems and jewelry rose a significant 22% in 2003 compared with 2002, totaling $10.6 billion. Loose diamond exports accounted for $8 billion of that growth.