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Page added on December 7, 2016
The world is about to reach peak diamond
Forget peak oil, the world is about to reach peak diamond – and it’s coming soon.
Global rough diamond production will reach a pinnacle in three years before entering into a supply deficit by 2020, according to research from consulting group GlobalData.
Rough diamond production is set to rise from 127m carats last year to 134.5m carats by 2020, a compound annual growth rate of 2.1 per cent.
However, output will begin to decline after 2019 as a result of depleting reserves at three key mines that accounted for around 18 per cent of global production this year.
The three mines that diamond supply will hinge on are Rio Tinto’s Argyle mine in Australia and its Canadian Diavik mine, and Dominion Diamond Corporation’s Ekati mine also in Canada.
Cliff Smee, GlobalData’s head of research and analysts for mining, said:
Global demand for diamond jewellery is expected to record a compound annual growth rate of 6.4 per cent, with China and India together expected to consume around 50 per cent of the global consumption, while global supply of polished diamond is expected to grow at an average of 4 per cent per year over the next four years to 163m carats in 2019, resulting in a demand-supply gap of around five to six per cent post-2019.
And in more bad news for bling-lovers, the supply deficit could also be exacerbated by the fact that 47 per cent of global diamond production comes from countries with high levels of political risk, such as the Democratic Republic of Congo and Russia.
Supply could fall “well below projected levels” if political disruption affects projects in these countries.
Last month, sales at Anglo American‘s diamond unit De Beers had a slightly unseasonal dip ahead of Diwali, Thanksgiving and Christmas.
6 Comments on "The world is about to reach peak diamond"
Plantagenet on Wed, 7th Dec 2016 2:20 pm
There is no diamond “supply deficit”.
Its now possible to cheaply manufacture diamonds.
Cheers!
Apneaman on Wed, 7th Dec 2016 2:45 pm
Another murderous cancer industry that mostly benefits entitled westerners who never see or have to deal with the day to day consequences of it.
You can string the Canadian mining companies and their lawyers up with the oil cunts.
Canadian Mining Companies Are Destroying Latin America
“Headlines seem to spring up every week in Latin America where locals are confronted with danger and Canadian companies are involved. A quick visit to MiningWatch Canada shows news of an indigenous anti-mining leader in Ecuador murdered by a SWAT team and locals from a mineral-rich area near Cusco, Peru facing intimidation at HudBay Mineral’s Constancia project. Then there’s news of the CEO of Vancouver-based Tahoe Resources being summoned to a Guatemalan court over accusations of criminalizing community leaders. The list goes on and on.”
http://www.vice.com/en_ca/read/canadian-mining-companies-are-destroying-latin-america-924
Eritreans file lawsuit against Canadian mining company for slave labour and crimes against humanity
“According to the lawsuit, conscripts were forcibly confined to the Bisha area, subjected to gruelling workdays and threatened with severe punishment if they left without authorization. They were made to survive on meagre rations and housed in deplorable conditions, the claim says, and all lived under a climate of constant fear and intimidation.”
http://www.ccij.ca/news/eritreans-file-lawsuit/
Time to counter human rights abuses by Canada’s mining companies
Major change is required to ensure accountability for companies that cause harm and effective remedy for those who are harmed, especially in the mining industry.
“The stories mount, stories of human rights abuse and injustice: “mining activists shot,” “mine operations suspended,” “company accused of water pollution.” Far too often a Canadian mining company is behind the story. Canadian mining companies lead the mining world; but none aspire to lead the world in mining-related human rights abuses.
There is a common theme to all the cases: lack of an effective remedy open to the individuals and communities that suffer human rights harms associated with Canadian mining operations. Victims have nowhere to turn for justice. Not in their home country, nor in Canada.”
https://www.thestar.com/opinion/commentary/2014/05/08/time_to_counter_human_rights_abuses_by_canadas_mining_companies.html
Same as with chocolate
Same as with clothes (Fast Fashion)
Same as with electronics
Same as with toys for spoiled fat western kids
Slave labour and highly toxic – Criminal behaviour so stupid rich westerns can carry on with their never end stream of cheap dopamine hits in between internet bitch sessions about how their overlords are too greedy and uncaring.
GregT on Wed, 7th Dec 2016 5:45 pm
“There is no diamond “supply deficit”.”
Not only do we have an oil glut, and a King salmon glut, we now have a diamond glut.
Thanks Obama. Best president ever!
Cheers
Peakcucks on Wed, 7th Dec 2016 7:15 pm
Peak diamonds? How about peak dollar printing or peak carbon. Heard of sythetic diamonds? Pussywhiped cuck fags buy diamonds for their cheating girlfriends who demand diamonds cuz it supports the alpha race(jews) who control the trade and price of diamonds.
Sissyfuss on Thu, 8th Dec 2016 8:35 am
Cloggenheffer, they’re calling your beloved Putins’ Russia politically unstable. Surely you won’t let that abide, Cloggenshirley?
Apneaman on Thu, 8th Dec 2016 3:47 pm
Three cheers for another cancer record that most everyone will ignore or deny.
Fiery fall: U.S. just experienced warmest autumn on record
“The new measure tops last fall, defined as the months of September, October and November, as the warmest since climate records began in 1895. The unusual warmth this year exacerbated the drought in the Southeast, helping fuel deadly and devastating wildfires there.”
http://www.usatoday.com/story/weather/2016/12/07/fall-autumn-record-warm/95101488/