Namibia is one of the eight African countries that made it into the 10 largest diamond producers in the world in 2022.
UNI Diamonds, a collaborative polished diamond marketplace, says Namibia produced 2.1 million carats, bringing in US$2,1b.
A South African precious metals and diamonds expert, Dr Ashok Damarupurshad, says Namibia diamonds are first stage polished by the Benguela current and the west coast of Southern Africa into the most sought-after gems diamonds in the world worth US$601/carat on average.
Damarupurshad says Namibian production increased to 2.05 million carats in 2022, compared with the 1.76 million carats produced in 2021.
“Namibian production in 2022 was probably the diamond mining highlight of the year, as the value of this production grew to US$1.23 billion from 0.82 billion the year before,” he says.
He adds that the unit value of this production, at US$601 per carat compared to US$466 per carat in 2021, was the highest of the world’s top 20 diamond mining countries.
According to the expert, marine production increased to a record 1.67 million carats primarily due to the commissioning by Debmarine of the Benguela Gem, a diamond recovery vessel, ahead of schedule.
Namdeb produced 0.38 million carats of alluvial diamonds from its Diamond Area No.1.
Damarupurshad also says that this suggests that more than 90% of Namibia’s production is of gem quality in the high-demand size categories.
Botswana produced 24,8 million carats, DRC had 9,9 million carats, South Africa produced 9,7 million carats, Angola had 8,8 million carats, Zimbabwe produced 4,5 million carats, Lesotho 730 000 carats, and Sierra Leone 689 000 carats.
Outside Africa, Russia was the biggest producer with 41,9 million carats, and Canada had 16,2 million carats.
Only 22 of the world’s 195 produce diamonds, with 10 countries accounting for 99.2% of rough diamonds produced in 2022.
The global 2022 diamond production was 120.2 million carats valued at US$16.2b.
Damarupurshad says Russia produced more than a third (35%) of the world’s rough diamonds in 2022 by volume and a little over a fifth of its value.
Russian Federation: Carat Ranking #1 / Value Ranking #2
According to Dr Damarupurshad’s analysis, Russia produced more than a third (35%) of the world’s rough diamonds in 2022 (by weight) and a little over one-fifth of its value.
Botswana: Carat Ranking #2 / Value Ranking #1
Botswana is famous for its gem-quality rough diamonds, six of which rank in the Top 10 of the largest rough diamonds ever discovered. That quality factor is why the country ranked #1 in value, topping its Russian rival by 40% even though its carat output was only 59% of Russia’s total.
Canada: Carat Ranking #3 / Value Ranking #4
Dr Damarupurshad noted that although Canada is also known for producing gem-quality diamonds, its production declines as older, richer pipes at the Ekati and Diavik mines deplete. Nevertheless, Canada still ranked #3 in production (16.2 million carats) and #4 in value ($1.8 billion) in 2022.
The next seven countries on the list are all on the continent of Africa. Eight of the top 10 diamond-producing countries are African, accounting for 51% of the world’s diamond output by weight and 66% by value.
Democratic Republic of Congo (DRC): Carat Ranking #4 / Value Ranking #11
The disparity in the countries’ rankings reflects the prevalence of lower-grade rough. The DRC generated 9.9 million carats valued at just $65 million. Most diamonds produced in the DRC are used for industrial purposes.
South Africa: Carat Ranking #5 / Value Ranking #5
The home of the 3,106-carat Cullinan Diamond, the largest diamond ever unearthed, South Africa produces consistently high-quality diamonds and has been doing it for over a century. The Cullinan was found in the Premier Mine in 1905. In 2022, South Africa generated 9.6 million carats valued at $1.5 billion.
Angola: Carat Ranking #6 / Value Ranking #3
Angola produced 8.7 million carats but banked $1.9 billion — a number topped only by Botswana and Russia. The high value is a testament to a finer grade of rough material unearthed in 2022. Dr Damarupurshad reported a marginal increase in carats in 2022 but a 20% increase in value compared with 2021.
Production and value take a big step down at this point in the list.
Zimbabwe: Carat Ranking #7 / Value Ranking #7
Zimbabwe’s output of 4.4 million carats was about half of the tally of #6 Angola, and the diamond value of $424 million was barely a fourth of Angola’s total. Zimbabwe’s output improved compared to 2021, but the value retreated by nearly 40%.
Namibia: Carat Ranking #8 / Value Ranking #6
On the southwest coast of Africa, this country produces gem-quality diamonds from off-shore activities. In 2022, Namibia had 2 million carats valued at $1.2 billion. Dr Damarupurshad called Namibian production in 2022 “the diamond mining highlight of the year.” The value of diamond output grew by 50%, and the price-per-carat grew to $601 — the highest of the world’s top 20 diamond mining countries.
Lesotho: Carat Ranking #9 / Value Ranking #8
In 2022, this tiny, landlocked country, surrounded by South Africa, scored a #9 spot with a rough diamond output of 727,000 carats and a #8 spot on the value chart with $314 million in revenue. In 2021, Lesotho diamonds generated the highest price per carat ($756), but the country failed to maintain that status in 2022 ($432).
Sierra Leone: Carat Ranking #10 / Value Ranking #9
Sierra Leone barely remained in the Top 10 in 2022 based on production (688,000 carats) and value ($143 million). Both numbers were slightly down from the country’s performance in 2021.
(Additional reporting by https://www.beeghlyandcompany.com)
