Global diamond production to fall 33% as mining reserves dry up

In 2018, diamond production touched a near record high of 150 million carat

A body representing eight leading global diamond mining companies sees diamond production coming down by 33 per cent going ahead with 10 per cent of the production expected to come down next year. A gradual fall in production will also result in better prices for the precious stone.  

Australian mine Argyle has decided to close a mine, in which diamond reserves are depleting, which will knock off 10 per cent of annual world production by 2020.

Last year mines produced 150 million carat rough diamonds globally, which was the highest since 2008, when the output was 163 million carat. The