Zimbabwe Ranked 7th World Diamond Producer

According to figures released by the diamond regulator Kimberley Process and reproduced by US trade gem regulator, Rapaport, Zimbabwe produced diamonds worth US$334 million last year and is ranked seventh in the world.

The rankings show that Botswana is the world’s top gem producer with US$2.5 billion followed by Russia which produced diamonds worth US$2,380 billion, Canada produced diamonds valued at US$2,300 billion.

South Africa comes in on fourth position after its mines produced US$1,800 billion gems, while Angola produced US$976 million is rated fifth, Namibia is now ranked sixth after producing US$744 million diamonds.

Most of Zimbabwe’s diamonds earnings are coming from the controversial Marange fields.

During the period under review, global rough diamond production rose 39% by value year on year in 2010 to US$12 billion, according to the Kimberley Process.

The value figure was still below the peak year of 2008 when production totalled US$12.73 billion. In terms of carat volume, rough diamond production rose nearly 7% to 133.12 million carats. The average price per carat produced rose 30% to US$90.13.

Meanwhile, the Zimbabwe Stock Exchange website has been hacked by cyber intruders, forcing the local bourse to shut down the link, the group’s chief executive officer said.

“We have pulled down our website after having been advised by our hosts,” Munyukwi said.

“There has not been effect in trade, but only that members of the public will not be have access to our link.”