Diamonds exist all across the globe, and even in outer space. Believe it or not, there is a planet out there, about twice the size of earth, that is comprised primarily of diamonds!
Diamonds are mined in dozens of countries across several continents.
Not all diamonds come from African countries; in fact, the world’s largest diamond producing nation is Russia. This might come as a surprise, but take a look at a map and you will notice just how large Russia is and it begins to add up. Give that Diamonds are formed deep below the earth’s surface it isn’t that surprising that they are found on every continent except for Antarctica (although perhaps they are their but no one is willing to brave the cold to find them).
Diamonds Mining in Inda
Diamonds were originally discovered in India, and that country was the world’s main source of the stone for centuries. This historical advantage exists to this day, as India is still the leading provider of cut and polished stones, having built up a robust infrastructure around the industry due to their historical dominance. In fact, it is reported that over 90% of the world’s diamonds are processed in India regardless of where they are mined. To top it off, the country has fairly progressive export and tariff laws, so international trade is strong between India and the rest of the world.
Diamonds Mining in Russia
Given the vast amount of land that makes up Russia, it should come as no surprise that the country is a large diamond miner. Unlike other countries, but similar to how Russia treats other natural resources; the government plays a large role in the Russian diamond business. Alrosa is a huge diamond business and it is 90% owned by the federal government. In fact, in 2009 it was reported that Russia became the world’s largest diamond producer. What does this mean in practical terms? The Russian government is rather savvy and knows how to maximize a natural resource, so as they continue to produce diamonds, they are also looking for ever newer ways to create demand for them. No one know what exactly this means for the jewelry business, but it certainly will be interesting.
Diamonds Mining in Canada
Similarly to Russia, Canada has an interesting history with natural resources. Canada has large oil deposits, but unlike the Persian Gulf, or Texas, the Canadian oil sands are exceedingly complicated to drill. Canada has taken a very measured approach to its oil reserves, and perhaps this is reflected in the way they treat their diamonds as well. Canada mines about 3.5 million carats a year, but that might not be the most interesting fact about Canadian diamonds, because they are widely revered for their high quality! Not only are they known for being high quality diamonds, but they are also conflict free and generally more wholesome. Canadian diamonds are laser etched with a polar bear to ensure that they are easily identifiable.