The government of Liberia gave its approval for the export of 27,772 carats of diamonds during the first nine months of the 2012 calendar year, Rough and Polished reports. The total value of the diamonds equaled approximately $10.4 million, generating an average per-carat price of $387.31, according to a report by a United Nations panel of experts.



The report noted that the total for the first three quarters of 2012 was down year-over-year from the 33,831 carats that were approved for export from Liberia between January and September 2011. This drop of about 18% was attributed to a rise in the market price of gold, which drew alluvial miners away from the diamond industry, and to inclement weather that inflated fuel prices.



Recently, UN experts also noted that around 10,000 citizens of Sierra Leone are mining for diamonds illegally in Liberia, leading to confrontations with local miners.