Global diamond supply
- Global rough diamond supply increased 1.6% in 2015 with increases from Australia and Russia offset by significant declines from Zimbabwe, Botswana and Canada
- The world’s largest diamond mines are maturing and past their peak production levels
- Potentially the world has already seen peak diamond production of circa 177 Mcts in 2005
- De Beers’ significant production shutdowns during the 2008 and 2009 global economic downturn have never been fully replaced
- A number of mines are coming on stream in late 2016 – namely Gahcho Kue and Renard in Canada and Liqhobong in Lesotho; these are not ‘new’ projects: Gahcho Kue was first discovered in 1997, Renard in 2001 and Liqhobong in the 1950s
- Supply forecast to increase by a CAGR of 4.5–5.5% from 2015–2019, before declining by 3.5–24.5% from 2019-2030 (Bain & Co)
World Diamond Mines
A key characteristic of diamond deposits is their scarcity, in contrast to many other commodities, and there are just 30 significant diamond mines in production today. Only seven mines in the world are considered to be Tier 1 deposits (+US$20 million Reserves).
To date, the most important discoveries (other than Argyle in Australia) have clustered into three regions of the world: southern Africa, Siberia, and western Canada.