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The economic activities of diamond producers and diamond-producing countries, their role in the value chain, and rough diamond sales.
What Is Diamond Production?
Diamond production is the set actions relating to the extraction of rough diamonds from sites all around the globe, and includes alluvial, open pit, and underground mining, as well as mining at sea.
Are Diamond Produced Wherever There are Diamonds?
For a resource to be developed into a mine, it first needs to be economical. Resources that produce only very low value diamonds, or that are very expansive to mine are not developed or mined. This means that there are many places around the world with known diamond resources that fall into this category.
What Issues Effect Diamond Production?
Consumer demand is the single most important force affecting diamond production. Changes in consumer demand are slow, but meaningful. Diamond production is also impacted by the cost of energy, weather, safety issues, and environmental concerns.
Each factor can lead to a complete halt in production.
What Countries Are the Biggest Source of Diamonds?
Currently, the leading diamond producing countries are:
- The Russian Federation
- The Democratic Republic of Congo
In the past, several hundred years ago, India was the world’s largest source of diamonds. Then Brazil became the leading diamond producer until diamonds were discovered in southern Africa, and South Africa was the leading producer for many years.
What Companies Are the Largest Diamond Producers?
The leading diamond miners by value are:
- De Beers
- Rio Tinto
The following posts provide insights into how exactly this works, the ways miners sell rough diamonds, and the role production plays in the economies of producing countries.
For a deeper look into this topic, please see below: