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Trade News -
  Sunday, September 16, 2007   

Australia Diamond Production -40% in 4Q Fiscal 07

Australia's diamond production fell 40 percent to 4.5 million carats in the fourth quarter of fiscal 2006/07, compared with the same three months ending June 30 a year earlier, the Australian Bureau of Agricultural & Resource Economics (ABARE) said in its June quarter Australian Mineral Statistics report.

In value terms, Australia’s rough diamond exports declined 45 percent to $125 million in the June quarter, of which $25 million were gem quality diamonds

Australia’s diamond imports increased 34 percent to 138,000 carats, of which 101,000 carats were gem quality. In value terms, imports dropped 3.8 percent to $102 million.

For the full financial year ending June 2007, Australia’s diamond production declined 2.8 percent to 24.63 million carats. The value of rough diamond exports dropped 13 percent to $726 million.

Imports of sorted gem-quality diamonds fell 1.5 percent to $392 million by value and decreased 290 percent to 421,000 carats in terms of quantity for the year.

ABARE further reported that Australia’s gold production was flat for the year ending June 30, 2007, at 251 tonnes. The country’s refined and unrefined gold exports increased 27 percent to 400 tonnes in terms of quantity, while refined gold exports rose by 45.6 percent to $10.32 billion by value.

Total export earnings from mineral resources increased 17 percent to $106.5 billion in 2006/07, ABARE reported.

“This stronger performance reflects higher export prices for almost two-thirds of the minerals and energy commodities exported, along with increased export volumes for nearly three-quarters of the commodities,” said Phillip Glyde, executive director of ABARE.
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