World Diamond Production Increases In ’95

World diamond production registered a slight increase to 107.9 million carats in 1995, according to a survey by Metals and Minerals Annual Review. This represents less than a 1% increase over 1994 production. Changes are in the wind, however. Production of very small diamonds is on the decline and will continue that way because De Beers, Argyle and other mining companies no longer find it profitable to recover stones smaller than 1.5mm. This has cut 3 million carats from production at Argyle in Australia and more than 500,000 carats from De Beers' Finsch Mine in South Africa. The reason for the cutbacks: demand for such small diamonds has been running far behind available supplies. As a result, prices have fallen so far that it costs more to recover them than the $1.50-per-carat average they bring in today's market. Another major change this year: two new producing countries have b
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