Diamond Is an allotrope of carbon where the atoms carbon is arranged in a way fcc (face-centered cubic) crystal also known as a diamond lattice.
Diamonds have got superlative physical qualities due to its covalent bonding between the atoms.
It is hardest known material on the planet and has highest thermal conductivity.
These are its major properties due to which it has got a major industrial application in polishing and sharp cutting tools and other industrial types of equipment like sharp-edged knives.
Market of Diamonds
World Diamond market consists of trading in rough Diamonds and mining and extraction of it.
99% of its mining is concentrated in just nine countries of the world.
Russia is the world largest producer of rough Diamonds, followed by Botswana and Democratic Republic of Congo(DRC). They altogether call upon 60% of the world’s production.
ALROSA is a Russian group of diamond mining companies that account for 93% of the total production in whole Russian Federation.
It is the world leader in the mining industry in the whole world.
The company is engaged in the whole sector including exploration, mining, manufacturing as well as a sale of them.
All the major mining companies are engaged in this industry but Zimbabwe and the DRC it is done by small companies and prospector.
Diamonds are subdivided into two categories: –
Industrial Grade Quality
Trading in this industry brings thousands of companies and people around the world together and helps in globalization.
The gem quality is used for diamonds jewelry production whereas the other industrial grade quality stones are for the manufacturing of industrial equipment.
From people engaged in mining and cutting rocks to the industries that employ them to the traders who grade them, sort them into the mentioned above subcategories and ship them to different parts of the world to the jewelry making groups and corporations who polish and produce the final beauty product to be sold to the customer who pay for them.
Companies use various different approach for the sale of diamond worldwide such as tender, auctions and other long-term contracts.
Gem quality stones are distributed to buyers after sorting them in categories of size, color, shape and quality and after getting the conformity from the sales policy in a rough diamond production company.
After being supplied in different parts of the world diamonds arrive at cutting and polishing plants where they get their real shine after which they are used for diamonds jewelry, diamonds rings, diamonds necklace, diamonds earrings and other purposes.
Statistics of Diamond Industry
The US is the world leader of Diamond jewelry acquiring 45% demand from the world.
After the US the second largest player in the world is China acquiring 16% of the global demand.
India is growing in this industry with a current share of 8% of the market.
India, Hong Kong, Israel, UAE, USA, Belgium are the world’s largest bulk trading countries of natural rough diamonds in the world.
World’s Biggest Diamond Manufacturers and Traders in the World are: –
- Rockwell Diamonds
- Anglo American plc
- Dominion Diamond Corporation
- Debswana Diamond Company, Ltd.
- De Beers