Revival in Australia’s Diamond Production in Q1

The Argyle Diamond Mine (above), one of the world's largest suppliers of diamonds, is located in Australia

Production during the September quarter was exported at an estimated value of A$59 million (US$53.77 million), a 22 percent decline compared to the June quarter and a 64.9 percent drop year-over-year.

Imports of gem quality diamond rose in the first quarter of fiscal 2010. Australia imported 96,000 carats worth A$109 million (US$99.34 million), rising 39.5 percent in volume and 8.1 percent in value compared to the June quarter. Compared to the first quarter of fiscal 2009, imports rose 6.5 percent in volume but declined 3.7 percent in value.

The average value of imports stood at A$1,139.04 (US$1,038.06).