Botswana reclaims diamond producer top spot

According to statistics release by the Kimberley Process (KP), despite Russia producing more rough diamonds in 2010 at 34 million carats worth P15.94 billion ($2.38 billion), Botswana's 22 million carats dug in 2010 were worth P17.35 billion ($2.59 billion), which was P1.4 billion ($210 million) more than the East European country's.

Says the KP: "Botswana was the world's top producing country by value in 2010 at $2.59 billion for 22 million carats, but Russia was the top producer by volume at 34.86 million carats valued at $2.38 billion. Russia held the top spot for both categories in 2009." In reaction to the cooled demand and weaker gem prices in 2009, Debswana - which has traditionally held the top spot - produced 17.7 million carats from 32.5 million in 2008, allowing state-owned Russian company, Alrosa, to clinch the top spot. Alrosa, which is now the joint top diamond producer in the world alongside De Beers, produced 35 million carats in 2009 worth P14.74 billion ($2.2 billion).