De Beers, which produces over a third of the world's rough diamonds, spent $43.4 million on diamond exploration over the course of 2010, down from $44.8 million in 2009, Bloomberg reports.

In 2010, the company discovered 22 diamondiferous kimberlite pipes.



Given the rising demand for rough diamonds in the global diamond industry, the company has said it could raise its production level to 38 million carats in 2011 – an increase of 21% - and to 40 million carats in 2012.



While De Beers' spending on diamond exploration was down, Alrosa's investment in exploration rose significantly, from $32 million in 2009 to $92 million in 2010.