According to a senior official at Russian diamond mining company ALROSA, global diamond production could decline by 5% - 10% this year to 95 million carats, compared to 100-105 million carats a year earlier.
RIA Novosti quotes Sergey Takhiev, head of corporate finance and investor relations at ALROSA, as saying that the decline is due to the mothballing and closure of diamond projects around the world.
"In the early 2020s, production was 120 million carats, give or take, and this year it will likely be 95 million carats," he noted. "Deposits are closing; some [producers] are mothballing them temporarily, while others are shutting them down completely."
Meanwhile, no significant diamond deposits have been discovered globally in recent years that would reverse the trend.
"No large deposits have been discovered in recent years," Takhiev stated.
He also stated that ALROSA intends to produce approximately 26 million carats of diamonds in 2026. In 2025, the company's diamond production decreased by 10% compared to the previous year, to 29.8 million carats.
Theodor Lisovoy, Managing Editor, Rough&Polished
