Analyst: SA Diamond Production to Fall until 2011, Analyst
Post Date: 27 May 2009 Viewed: 687
Diamond production in South Africa will continue declining until at least 2011 amid expectations that the global economic recovery will be protracted, Frost & Sullivan said, Bloomberg reported.
Diamond output will drop to 12 million carats of diamonds in 2011, from 15.8 million carats last year, Wonder Nyanjowa, mining analyst at Frost’s Cape Town office, said in an e-mailed report today.
There are “no sharp rebounds expected in the demand for commodities in the near to medium term,” Nyanjowa said.