Output was hurt by a two-day halt in Lesotho during the country's general elections, as well as by an equipment breakdown, now repaired.

However, De Beers sees the risk of the market slowing down in the coming months due to a deterioration in global economic conditions.

Production of rough diamonds climbed 4% to 9.6 million carats in the third quarter of the year, compared to the same period of 2021.

Anglo American's quarterly output grew 16% from the previous three months led by the robust coal and diamond operations.

De Beers has told customers in a memo that it would be doubling the size of its so-called buyback process.

The 170-carat “Lulo Rose” may be the largest recovered in the last three centuries, Lucapa Diamond said in July.

Barclays' economist Michael Kafe said revenues were on track to exceed budgeted estimates and part of the windfall would be allocated to the public wage bill.

Mineral royalties accounted for 2.8% of Zimbabwe's tax revenue in 2021, Zimbabwe Revenue Authority data shows.