The closure of the Argyle mine in 2020 caused quite a stir in the diamond world. The Argyle mine in Western Australia - owned by mining group Rio Tinto - was the world's largest source of pink diamonds. As a result of this closure, diamond production in Australia plummeted by 90%.
Diamond mine in South Africa for sale?
Special news on the diamond market this week: De Beers sells another South-African mine. A couple years ago they also sold the historical Cullinan mine, where one of the most famous diamonds was found, the Cullinan.
Who owns the largest diamond production globally?
For many, world famous diamond giant De Beers is still synonymous to total control over the diamond market. The diamond world, however, is constantly evolving. How did the market function in the past? What does the future hold?
The Diavik diamond mine
Richard LeBretons works in one of the most unique and remote locations in the world: a diamond mine on an isolated island, 200 kilometres to the south of the Arctic Circle. During wintertime, temperatures fluctuate around – 40° Celsius. A dream location for a geotechnical engineer like Richard, but for your typical investor a true mystery when buying diamonds.
Which diamond was found in Sierra Leone?
Since the beginning of the 20th century, new diamond mines have been located worldwide, including in Sierra Leone. Although African countries have had a negative connotation with diamond lovers for years, euphoria for this special discovery is in order. The Nambian Trustco Resources therefore reacts with satisfaction to the discovery. How much the diamond price will be, however, is yet not known.
Buy diamond from Botswana?
The discovery of the diamond has not been a blessing for all the parts of Africa. In recent history, the demise on a regular basis was accompanied by the exploitation of workers, environmental destruction, government corruption and waste of incomes.