Africa Stands on Dominating Position in Global Diamond Industry: Ken Research

0


World’s diamond supply is expected to remain stagnant over the next few decades with the increases in demand. Diamond mines are extremely rare and the supply for diamonds is in high demand. Canada produces and markets high quality diamonds in the world. It was observed that the diamond production decreased with the growing years. Alrosa, De Beers SA, Rio Tinto Plc, Dominion Diamond Corporation and Petra Diamonds Ltd. are the global largest popular diamond miners. Few other major diamond producing mines are The Argyle, Orapa, Jwaneng, Diavik, Catoca and Nyurbinskaya other than the world’s largest diamond mining companies. These miners produced above 150 million carats of rough diamonds in a year. The rough diamonds are sent through the so-called diamond pipeline. The produce a diamond, the rough diamond undergoes various processes. The chain runs from dealers to diamond cutters, polishers, to jewellery manufacturers, to retail stores, and finally to consumers.

According to the research report “Global Diamond Mining to 2020”, it is expected that the demand for diamonds is expected to grow worldwide, with the decline in the diamonds supply over the coming years. Gahcho Kué, is the largest new diamond mine in Canada that will produce up to 6 million carats annually by the year 2020. Russia, Botswana, the Democratic Republic of the Congo (DRC), Australia, Canada, Zimbabwe, Angola and South Africa are the top eight rough diamond production centres. These countries account for the 97% of the global diamonds production. The world’s largest diamond mining companies account for 70% of the global diamond production.

Rough diamonds are usually found in kimberlite, lamproite and alluvial deposits. The Botswana’s Orapa region and in South Africa has the world’s largest kimberlite reserves and the Atlantic coasts of South Africa and Namibia possess alluvial deposits. The lamproite deposits are found in the Australian Argyle mine in Kimberley region. The expansion of global diamond mining operations mainly focuses on the accessibility of diamond deposits and the depth of occurrence of the rough diamond deposits which are increasing challenges in the diamond mining market.

Global Diamond Mining to 2020, report includes global reserves of diamonds, global rough diamond processing, and diamond trade in the next few decades. The diamond mining project are becoming more capital intensive, necessitating substantial investments, especially in the field of technology. The actively operating diamond mines in the world are in Asia-Pacific (APAC), Oceania, Middle East and Africa (MEA), Americas and Former Soviet Union (FSU). There are various factors affecting the global diamond industry are demand for diamonds, reserves, historic and forecast production, major exporting and importing countries, active, exploration and development projects and the competitive landscape.

SSA (Sub-Saharan African) countries will continue to dominate global diamond production, supported by operating costs and strong projects in the pipeline. The diamond production growth is majorly driven by African countries even though Russia is the world’s largest diamond producer in the world. The top diamond producers in South Africa are Congo- Brazzaville, Ghana, Guinea, Guyana, Lesotho or Sierra Leone.  African miners benefit a lot due to competitively low operating costs and solid project pipelines. Foreign miners look forward to invest in mines that have already yielded sizeable diamond recoveries.

The production cost is all set to increase with the increasing transparency and ensuring responsibly sourced diamonds. With the younger generation more attracted to the diamonds and with more consumer spending limit there is a growth in the diamond market along with supported production. As the supply of diamonds slows down in the next few years the price is expected to remain stagnant. However, if global production continues to increase with the demand then the oversupply will lower the diamond prices. The SSA countries are highly depended on diamond revenue; therefore, the diamond producers are more exposed to price fluctuations.

Key Topics Covered in the Report:

Global Diamond Reserves by Country

Global Diamond Mining Reserves by Selected Operating Mines

Global Diamond Industry research

Diamond demand in North America

Europe Diamond market demand analysis

Global Precious metals market analysis

Global mining equipment market research

Diamond Market projections analysis

South Africa Diamond sector analysis

Russia Diamond jewellery market

US diamond jewellery market research

Asia Pacific Diamond jewellery market

To know more, click on the link below:

https://www.kenresearch.com/metal-mining-and-chemicals/mining/global-diamond-mining/70766-101.html

Related reports

https://www.kenresearch.com/metal-mining-and-chemicals/chemicals/global-diamond-mining-investigation/82779-101.html

https://www.kenresearch.com/metal-mining-and-chemicals/chemicals/global-diamond-mining/84835-101.html

Contact:

Ken Research

Ankur Gupta, Head Marketing & Communications

query@kenresearch.com

+91-124-4230204

Share.

Comments are closed.