2013-01-09 18:49:30 -
Global diamond mining market led by mines in Russia and the Democratic Republic of Congo
The global diamond mining market produces approximately 130,000,000 carats (26,000 kg) annually, with a total value of nearly US$9 billion, and about 100,000 kg (220,000 lb) synthesised annually.Roughly 49% of diamonds originate from Central and Southern Africa, although significant sources of the mineral have been discovered in Canada, India, Russia, Brazil, and Australia.They are mined from kimberlite and lamproite volcanic pipes, which can bring diamond crystals, originating from deep within the Earth where high pressures and temperatures enable them to form, to the surface.The mining and distribution of natural diamonds are subjects of frequent controversy such as concerns over the sale of blood diamonds or conflict diamonds by African paramilitary groups.In some of the more politically unstable central African and
west African countries, revolutionary groups have taken control of diamond mines, using proceeds from diamond sales to finance their operations. Major diamond trading corporations continue to fund and fuel these conflicts by doing business with armed groups.The diamond supply chain is controlled by a limited number of powerful businesses, and is also highly concentrated in a small number of locations around the world.Today, most commercially viable diamond deposits are in Russia (mostly in Sakha Republic, for example Mir pipe and Udachnaya pipe), Botswana, Australia (Northern and Western Australia) and the Democratic Republic of Congo.The Democratic Republic of the Congo diamond mining market produced 19.3 million carats of rough diamonds in 2011, which represented an increased output of 14.9% compared to 2010 figures. The increase in production within the DRC diamond mining market is attributed to the rise in output from the MIBA mines and Tshikapa Triangle mine.The DRC diamond mining market has been forecast to increase at a CAGR of 1% through to 2020, when production is forecast to increase to 21.23 million carats.In Russia, production within the diamond mining market totalled 35.14 million carats in 2011, which represented an increase of just 0.8% over 2010.For more information on the diamond mining market, see the latest research:Russian Diamond Mining MarketDemocratic Republic of Congo Diamond Mining MarketFollow us on Twitter @CandMResearch
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