The diamond business appears to have a short, straightforward production chain at first look. Mining the diamond is the first step, followed by trading raw materials, polishing the diamond, and selling it as an investment diamond. In actuality, though, the procedure is more complicated. Some countries have mines, while others have the financial resources, high-tech equipment, and experience to treat raw diamonds. Even though there are no mines within their boundaries, these countries become true manufacturing hubs. Some nations, on the other hand, have both mines and diamond processing capabilities. Of fact, the line between the two isn't always obvious, and there are overlaps everywhere. As this series of essays will demonstrate, the global economic system also plays a role in defining the responsibilities of different areas.
Diamond-producing nations are those where diamonds are discovered and produced. The northern band and the southern band are the two main bands that round the Earth. A third middle band includes diamonds as well, but in less quantities and with lower value. Russia and Canada, two of the world's largest diamond producers, are part of the northern band. Southern African countries such as Botswana, South Africa, and Namibia, as well as Australia, make up the Southern band. The Ivory Coast and Sierra Leone in Africa, as well as Venezuela and Brazil in South America, make up the middle band.
Russia is said to have the world's largest and richest diamond reserves. By volume, they are the greatest producer and exporter of rough diamonds in the world. Russian diamond miners mined 38-39 million carats of diamonds in 2014. ALROSA is the country's largest diamond miner, with a near-monopoly on the industry, accounting for well over 90% of the country's yearly output. Diamonds of different shapes and sizes are discovered in Russian mines. Their luminescence is well-known, as is their crystalline shape: sharp diamonds with eight facets. A number of Russian mines also generate yellow diamonds.
Botswana is the world's top diamond producer in terms of value and second in terms of volume. De Beers' headquarters and the source of the majority of the company's current output are located here. Botswana produced 23.2 million carats in 2013, worth $3.63 billion, in 2013. The nation contains seven mines, the most notable of which are Orapa and Jwaneng. The De Beers Company uses both of these mines. Lucara and Kimberley Diamonds are two other participants in this African country. A vast variety of diamond shapes and colors may be found in Botswana. The diamonds are mostly of good grade and feature a dodecahedron form.
Democratic Republic of Congo
Despite the fact that the Democratic Republic of Congo is Africa's top diamond producer, information on output remain scarce. Despite a steep drop in production in recent years, the DRC has a long history as a diamond-mining country and is now the third largest diamond-producing country by volume. The informal sector, rather than mining firms, mines the majority of the DRC's output. Approximately 700,000 artisanal diamond miners are estimated to work in the country's alluvial mines. Miniere de Bakwange, a joint venture between Belgian firm Sibeka and the DRC government, is the country's only commercial diamond producer. De Beers owns a 20% interest in Sibeka and markets roughly a third of the company's output. The MIBA produces diamonds of a lower quality, compared to the other mines. In other regions, high quality white diamonds are unearthed.
Australia is a major player in the diamond industry, since it is the world's largest producer of color diamonds. Australia is known for its pink, purple, and red diamonds, as well as producing some of the world's best yellow diamonds. The majority of the diamonds produced in the nation are of low color and clarity. Rio Tinto owns and operates Argyle, Australia's largest diamond mine. Argyle is a very productive mine, producing more over 12 million carats each year, second only to Botswana's Orapa. The mine is now an underground operation after several years of hard effort. Ellendale and Merlin are the other two mines in Australia, with the latter now in the ramp-up phase. The Argyle mine became the world's top producer of natural coloured diamonds, notably the Argyle pink and red diamonds, which are extremely uncommon and valuable. Mining activities, on the other hand, came to an end in November 2020.
Throughout the twentieth century, most people would never have considered Canada to be a major diamond producer. Canada was put on the map of rough diamond-producing countries by two visionaries with a solid belief. In the Northwest Territories, some 200 kilometres north of Yellowknife, Chuck Fipke and Stewart Blossom discovered evidence of diamond-bearing Kimberlite pipes in 1991. Canada is now one of the world's leading diamond-producing nations. Diavik, Ekati, Snap Lake, and Victor are the four operating diamond mines in Canada. Ekati was the country's first operating diamond mine. Dominion Diamonds owns and operates this significant resource, which offers a diverse range of commodities. The majority of the diamonds unearthed in Canada are colourless and of high quality.