Australia’s diamond production to rise 21% in 2012

Diamond production in Australia in 2010-2011 fiscal year is expected to amount to 9.9 million carats, dropping by 10.6 percent from the production in fiscal 2009-10. The estimates are lower than the previous expected estimates of 10.63 million carats. In the 2009 calendar year, production amounted to 15.6 million carats.

But according to reports, production is expected to revive from the downslides and make a 21 percent jump in 2012, as per the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES). In 2012, production is expected to touch 12.05 million carats, at a value worth around $456.6 million.