Polished Diamonds Price Rising Sharply
Over 2007 the polished diamonds price rose sharply with the larger stones making solid gains. In the 3.0 to 5.0 carat size ranges, polished diamond prices were up almost 5 percent in December. This is a gain of almost 1.2 percent in December over November 2007.
The demand for the larger carat diamonds continues to be bullish and while demand is high the diamond jewelry trade prices will continue to rise.
The top diamond producers for 2007 were De Beers, Rio Tinto, Alrosa, Aber Diamond Corp, BHP Billiton, Petra Diamonds, Kimberley Diamonds and Gem Diamonds.
The top diamond producing mines were Argyle, Orapa Mine, Jwaneng, Diavik, Venetia, Ekati, Finsch, Kimberley, Cullinan and Letlhakane.
The top diamond producing countries around the world in order were, Botswana, Australia, Russia, South Africa, Canada, Angola, Namibia, DR Congo, Leshoto and Tanzania.
The Argyle diamond mine in Australia leads the world in volume production of diamond, averaging annual production of 35 million carats, equivalent to around one third of world production. However only 5 percent of this is considered gem-quality. This is below world standard as most mines produce and average of 20 percent gem quality of the diamonds they produce. Most of Australia’s rough diamonds go to India for cutting and polishing.
It looks likely, as world production of diamonds slows down, that polished diamond prices will continue to rise in the short term as well as the long.
