The reports of the world’s first diamond mining and trade dates back to around 700 – 500 BCE in India. At that time, India was the only known source of diamonds. The famous Kohinoor diamond, Hope diamond, Regent diamond were all from India.
Until the 1700’s India was a top producer of diamonds, and the Europeans especially took interest because of its superior quality. But then all the existing diamond mines in India started to get exhausted and around the same time, new diamond sources in other countries like Brazil, South Africa were discovered.
Now, India’s status as the top diamond producer is no more and instead new countries with their newly discovered mines have emerged.
So, who are the new game changers in the Diamonds industry?
Here are the 5 countries that have emerged as the top producers of diamond in the world.
According to the data from Statistica, in the year 2020 the Russian mines produced approximately 19 million carats of diamonds. This made Russia the largest diamond producer that year. Even the year before that too, Russia was the largest producer in the world. It is estimated that only Russia contributes to around 30% of the world’s diamonds produced. With most of the country’s largest diamond deposits situated in the Siberian region, ALROSA (the country’s major miner) contributes to almost 90% of the country’s diamond production. In fact in the year 2019, an ultra-rare diamond within diamond, named as the “Matryoshka” after the famous nesting dolls of Russia, was mined from Yakutia.
Following Russia, Botswana comes second when it comes to the volume of diamonds produced. The ALROSA group of companies is a major player in the diamond mining industry of Russia; likewise in Botswana, De Beers is a home company and a key player in the mining industry. It controls the operations of the two largest of the seven mines of Botswana. Even though Botswana comes second when it comes to the volume of diamond production, quality-wise it surpasses the Russian diamonds. The diamonds here are not only larger in size, but also boast a better quality.
- Democratic Republic of Congo
Broiling under a political turmoil and the production majorly done by the informal miners instead of large commercial companies, the Democratic Republic of Congo has more potential for production. Yet, still with the current situation it has managed to contribute to the world’s diamond production, coming in third place. With a joint venture between the DRC government and the Belgian enterprise Sibeka, Miniere de Bakwanga (MIBA) is the only commercial diamond producer.
Coming as the fourth largest diamond producing country, Australia is known for its coloured diamonds worldwide. The rare and coveted Argyle pink and red diamonds are mined from Argyle mine— one of the largest diamond mines in the country. Rio Tinto is the one involved in the production activities of diamond in the Argyle mines of Western Australia. The now shut Ellendale mines owned by Kimberley Diamonds in the Northern Territory, that used to produce yellow diamonds is now waiting for a new operator to start the mining activities again, but still the diamond output from Australia is expected to fall this year.
As much as it was surprising to find Canada in this list, but the kimberlite pipes found near the Arctic circle in the Northwest Territories during the early 90’s changed the game for Canada. With 4 active mines, Canada is currently the fifth largest producer of diamonds. The Diavik and Ekati mines are managed by Rio Tinto, whereas De Beers operates Snap Lake and Viktor mines. The diamonds mined here are colourless and of high quality just like the diamonds from Africa, but they do not come with the “blood diamonds” tag.
These top 5 countries contribute to almost 70% of the world’s total diamond production, but who knows the discovery of a new reserve in some other country may end up changing the whole diamond production game dominated by these countries.
About Diamond Brothers:
With an experience of over 25 years, Diamond Brothers has perfected the trade of buying and selling diamonds, and has mastered in the art of valuing diamonds from around the globe. Our growing number of offices all over the European cities is a testament to our reputation, as one of the most trusted brands in Europe.
The company with its humble beginning has now emerged as a multi-million dollar enterprise built on the foundation of valuing relationships just like the diamonds they deal with.
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