PRETORIA, April 23. /TASS/. De Beers lowered forecast diamond mining volumes in 2024 to 26-29 mln carats in view of presence of huge unsold inventories of raw diamonds in the global market, the Mining Weekly magazine said.

According to initial plans, De Beers intended to mine from 29 to 32 mln carats in 2024. In the first quarter of 2024, De Beers slashed mining by 23% year on year to 6.9 mln carats. The dip in production occurs at the same time amid the rise in diamond prices. The average retail price per carats gained 23% annually in the first quarter to $201.

The price hike reflects the rise in De Beers’ sales of expensive diamonds in the premium market segment, the news outlet said.