Story by Paul Zimnisky of Diamond Analytics
On November 1st, De Beers said that it will be closing its about depleted Victor design abundance in arctic Ontario in aboriginal 2019. Victor is the aboriginal in a band of bequest design mines all-embracing that will be closing over the aing 5-years.
Most notably, Rio Tinto’s illustrious Argyle abundance in Australia is accepted to shut operations in 2021. At aiguille production, in the mid-90’s, Argyle produced over 40M carats annually. To put that into perspective, absolute 2017 all-around design achievement is estimated at beneath than 150M carats.
De Beers Voorspoed abundance in South Africa is on clip to ability end-of-life by the end of the decade, and a bulk of the company’s alluvial mines in Namibia are planned to be phased out by 2022.
With all-around design appeal anticipation to abound at about 3.5% annually over the aing bristles years, apprenticed by average chic consumers in Mainland China and India, the industry’s fastest growing ample markets, a accumulation gap bottomward the band seems assured if forecasts hold.
Globally there alone two new design projects in the works with anniversary assembly abeyant of in balance of 1M carats, one in Angola, the added in Russia. Further, new design activity analysis has been bound by challenges in the upstream design industry’s
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