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Australian diamond production declines

July 02, 2007

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Antwerp, Belgium—Diamond production in Australia dropped 31.7 percent for the first quarter of 2007 versus the same period in 2006, according to the Antwerp Facets News Service (AFNS).

The total of 3.58 million carats of rough was off by 56 percent versus the fourth quarter of 2006.

The figures, from the Australian Bureau of Agricultural and Resource Economics, blame a series of cyclones that hit Western Australia—the site of the country's diamond mines, including Rio Tinto's Argyle mine—for the decline.

Diamond exports from the country—which include gem-quality and industrial stones—dropped 30 percent to $76 million for the first quarter. Imports were up 8 percent in value to 789,000 carats worth $106 million.
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