Global diamond supply
- Global rough diamond supply increased 5% in 2016 with increases from the Democratic Republic of Congo and Canada, offset by a significant decline from Zimbabwe
- 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
- The success rate in diamond exploration is estimated as less than 1% and there have been no major new finds for over 20 years
- A number of mines came on stream in late 2016 – namely Gahcho Kue and Renard in Canada and Liqhobong in Lesotho, however these are not ‘new’ projects (Gahcho Kue was first discovered in 1997, Renard in 2001 and Liqhobong in the 1950’s)
- Supply forecast to increase to ca. 143 Mcts by 2019 before declining to ca. 101 Mcts by 2030 (source: Canaccord Genuity)
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.
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