Australia Doubles Diamond Production in Q3
June 11, 09
Australia doubled its diamond production in the March ending quarter, rising 101.1 percent to 4.573 million carats of gem and industrial quality diamonds, according to preliminary figures released Thursday by ABARE, a government research agency.
Total exports of 3.175 million carats were a 39.5 percent year-over-year increase, but a 41.5 percent drop from the preceding December quarter.
The value of exports totaled A$95 million (US$76 million), a 32.2 percent decline from the March 2008 quarter and a 41.5 percent decline compared to the December quarter. Gem quality diamonds exports totaled A$46 million (US$36.8 million), a 14.5 percent year-over-year increase.
The country imported 73,000 carats of gem grade diamonds worth A$97 million (US$77.7 million), an 18.9 percent decline in volume and 19 percent decline in value compared to the previous year.