The global diamond reserves were found to be 1.4 billion carats (Bct) as of January 2021. More than 85% of these are located across Russia, Botswana, the DRC and South Africa. In the past couple of years, Australia has lost its number one spot in terms of diamond reserves to Russia, owing to depleting ore reserves and closures.

The global rough diamond production is expected to recover by 1.4%, to reach 112.99 million carats (Mct), in 2021, after registering an estimated 19% decline in 2020. With potential diamond mines, Botswana, Canada and the DRC are also expected to remain prominent suppliers of rough diamonds to global markets. In contrast, production will completely cease in Australia, owing to the closure of the Argyle mine, which closed in November 2020.

In 2020, the COVID-19 pandemic hammered the global diamond market, which was already undermined due to several factors such as the then-ongoing US-China trade war and political instability in Hong Kong that is one of the chief locations for trading diamonds. As a result of the pandemic, operating activities and cross-border movement were severely disrupted.

Production over the forecast period (2021-2025) is expected to grow at a CAGR of more than 2%. Russia, which holds some of the world’s largest diamond deposits, is expected to remain the world’s largest supplier.

Global diamond mining market overview

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What are the diamond mining dynamics?

After steady growth in 2018, demand for rough and polished diamonds was subdued in 2019 before suffering a major setback due to the global pandemic in 2020. The COVID-19-related lockdowns and restrictions disrupted weddings and other celebrations, significantly hampering the global retail business, with outlets having to temporarily close around the world. This global crisis in the form of reduced demand from retailers, alongside the lockdown, led to the closure of diamond cutting and polishing factories in India, which hosts the world’s largest midstream industry.

Closure of markets across China and Hong Kong worsened the global demand, which further deteriorated after the pandemic spread across the western regions including Europe and the Americas. China, during the Q1 2020, was the worst affected, however, was also the fastest to start replenishing and getting back in shape, which became a key driver for the balanced global demand. Overall, the global consumer market’s sentiment was severely affected during the first half of 2020 that started recovering towards the subsequent months.

The gradual easing of restrictions improved global market conditions and reinforced demand across the supply chain. Demand in key consuming markets including the US and China recovered towards the end of 2020. Thus the online campaigns and e-commerce festivals have also gained popularity and boosted consumer confidence in online purchases.

What is the categorization of diamond mining assets?

The diamond mining assets are categorized into active mines, development projects and exploration projects. Each category provides additional information about the mines/projects regarding the mining method, mine stage, total ore reserves, saleable production year, equity owners etc.

What are the top regions and countries for diamond mining?

Russia is the world’s largest producer of rough diamonds and accounted for more than 31% of the global total in 2020. This was followed by Botswana, Canada, the DRC and Australia. The production in Australia continued to decline, owing to the depleting ore reserves at the Argyle mine, which commenced in 1983 and then ceased production in November 2020. Given the Ellendale mine is currently idled, Australia’s diamond production effectively ceased at the end of 2020.

Russia is expected to remain the world’s largest supplier. With potential diamond mines, Botswana, Canada and the DRC are also expected to remain prominent suppliers of rough diamonds to global markets. Furthermore, Angola will emerge among the top five producers globally, and eventually surpass the DRC to become the fourth largest towards the latter part of the forecast period.

Global diamond mining market, by region

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Who are the major players in the diamond mining?

The world’s leading diamond producers are ALROSA, Anglo American, Rio Tinto and Petra Diamonds Ltd. ALROSA is amongst the world’s leading diamond mining companies, carries out the exploration, extraction and sale of rough diamonds. It mines small, medium and large diamonds. Anglo American owns 85% of De Beers Group, with the remaining 15% owned by the Government of the Republic of Botswana. The company’s diamond mining operations are located across four countries: Botswana, Canada, Namibia and South Africa.

Global diamond mining market, by key companies

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Market report scope

The report also provides detailed information on reserves, production, production by company and country, major active, exploration and development projects by region.

Reasons to Buy

• Comprehensive evaluation of the impact of COVID-19 on global diamond industry
• To gain an understanding of the global diamond mining industry, relevant driving factors
• To understand historical and forecast trend on global diamond production
• To identify key players in the global diamond mining industry
• To identify major active, exploration and development projects by region