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Global diamond demand regains some shine

2022-01-19  Maihapa Ndjavera

Global diamond demand regains some shine
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Namibia’s Diamond Production Index increased on a monthly basis by 5.4% in November 2021, compared to a miniscule growth of 1.6% recorded a month earlier. On an annual basis, the index increased by 3.3%.

“The increase registered on a monthly basis in the production of diamonds was mainly due to an increase in the global demand,” this is according to the sectoral report released last week by the Namibia Statistics Agency (NSA).

For the month of November 2021, the volume of diamonds produced amounted to 148 165 carats. The production for October 2021 stood at 140 565 carats, while 143 391 carats were produced in the corresponding month of 2020.

Mining is one of the biggest contributors to Namibia’s economy in terms of revenue. Its contribution to the gross domestic product (GDP) is also very important and makes it one of the largest economic sectors of the country. Namibia produces commercial quantities of diamonds, uranium, copper, magnesium, zinc, silver, gold, lead, semi-precious stones and industrial minerals.

Furthermore, the report stated the Uranium Production Index also increased on a monthly basis by 7.6% in November 2021, compared to a deterioration of 13.5% recorded in the preceding month. On yearly basis, the index posted a growth of 32.2%. 

“The growth recorded in the production of uranium on a monthly basis was mainly attributed to high-grade ore being mined. This was driven by the sufficient water supply mostly required to mine and process uranium minerals efficiently during the review period,” said NSA. 

In November 2021, the production of uranium stood at 622 tons compared to 578 tons and 470 tons produced in October 2021 and the corresponding month of 2020, respectively. 


2022-01-19  Maihapa Ndjavera

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