![]() ![]() These high hopes resulted in “lots of projects in the pipeline,” Linde says, but those projects were put on ice when diamond demand and prices softened during the 2008 crisis. There was a new middle class coming up in China and India, as well as other Asian countries, that diamond companies were eager and hopeful to capture as their next consumers, bringing growth the industry believed it could not cultivate in the already-mature U.S. Olya Linde, a partner with Bain and Co.’s Energy & Natural Resources practice and one of the authors of the company’s global diamond report for 2020-2021, said prior to the 2008 crisis, the industry had expectations of strong growth. It stayed above 160 million carats in 20 before dropping off by more than 25 percent in 2009 (120.2 million carats) in response to the global economic crisis. Global diamond supply figures maintained by the Kimberley Process (KP), which date back to 2004, show production peaked in the early aughts, climbing to 176.7 million carats in 2005. “We’re out of economic deposits at current prices.”Īdding another element of uncertainty is the future of Russian supply, with one of the world’s biggest producers, Alrosa, effectively barred from doing business in one of the world’s biggest diamond markets, the United States. “We aren’t necessarily out of natural diamonds,” industry analyst Paul Zimnisky says. The question facing the industry is how economically, and in some cases politically, viable is it to get to the ones that are left? South of the Equator, one African nation is poised to become the only country in the world where the three largest diamond miners-Alrosa, De Beers Group and Rio Tinto-all have a presence: Angola. There are more diamonds believed to be buried deep in another bitterly cold climate, Siberia, and beneath the ocean floor. There are large pockets of land all around the globe that could be diamond targets, Smith says, and exploration is ongoing in remote places like the Melville Peninsula and Baffin Island in the far northern reaches of his home country, Canada. ![]() Still, the industry has not reached a point where the Earth has no more diamonds to give. “For every diamond you take out of the ground, there’s one fewer to be found,” Gemological Institute of America research scientist Evan Smith says. ![]() Molded by a combination of intense heat and pressure over billions of years, they are neither easily formed nor easily replaced. Like coal, oil and gas, diamonds are a non-renewable resource. 24 invasion of Ukraine and the resulting sanctions on Russian diamonds was current as of press time unless otherwise noted. The company plans to run such auctions regularly.Editor’s Note: This story first appeared in the print edition of the 2022 State of the Majors. In September, the True colors auction started in Hong Kong, where ALROSA showcased collection of 250 diamonds of different shapes and hues. Today, ALROSA produces at least 7 thousand carats of colored diamonds per year. Most of these diamonds are processed by DIAMONDS ALROSA – the company’s in polished branch. Starting 2018, ALROSA sorts colored diamonds according to a new technology, that includes almost all hues and color grades. In 2017, Almazy Anabara also extracted a unique 27.85-carat pure pink diamond– the largest pink stone in ALROSA’s history, and a large 34.17-carat vivid yellow diamond.ĪLROSA plans to focus its cutting division on the processing of large and colored diamonds and the subsequent sales. However, even now one can say this is a worthy specimen for replenishing our collection of colored diamonds,” Evgeny Agureev, the Member of the Executive committee, Director of the United Selling Organization of ALROSA, said.Īlmazy Anabara is traditionally the leader in the number of fancy-colored stones. United Selling Organization of ALROSA and the company’s cuttingdivision DIAMONDS ALROSA have yet to study the diamond and decide whether to auction it as a rough or to cut itinto polished diamond. This stone is also unique, because nature seemed to have prepared it for cutting and in advance gave it a pear-like shape. “The extracted stone is our new unique discovery. This is a chip of the crystal with insignificant colorless inclusions on the surface. The diamond was discovered at Ebelyakh placer deposit in July it has dimensions of 11.40 x 19.00 x 17.50 mm. ![]() Today, it is the largest yellow rough diamond mined at ALROSA’s deposits since the beginning of 2018. Photo courtesy of PJSC ALROSA.įollowing the assessment, the color of the stone is defined as the rare Fancy Intense Yellow. Image: ALROSA extracts large diamond from Ebelyakh placer deposit in Russia. JSC Almazy Anabara, a subsidiary of diamond mining company ALROSA, extracted large 28.59-carat rough diamond of deep greenish-yellow hue from its Ebelyakh placer deposit in Russia. ![]()
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