The Diamond Industry

The diamond industry consists of segments that mine, process and market gem diamonds and industrial diamonds.

Gem quality diamonds are mined primarily in Botswana, Russia, South Africa, Angola, Namibia, Australia and the Democratic Republic of the Congo.

It takes an average of 250 tons of mined ore to produce one carat of finished diamond.

The primary diamond processing centers, where they are evaluated, cut and sold are in Antwerp; India, Tel Aviv and New York.

Unlike precious metals such as gold or platinum, gem diamonds do not trade as a commodity: there is a substantial mark-up in the sale of diamonds, and there is not a very active market for resale of diamonds. One hallmark of the trade in gem-quality diamonds is its remarkable concentration: wholesale trade and diamond cutting is limited to a few locations.

New York is the primary port of entry into the United States, and the largest market for diamonds in the world.