How can I buy diamonds from subsea mines?

  • Why reclaim from the sea?
  • Who first started subsea mining?
  • What are the sea reclamation expectations?

Diamonds are becoming increasingly scarcer and some people even believe the diamond mines will be completely dried up within the next 15 years. This is mainly down to the fact that very few new diamond mines are being discovered and the demand for diamonds has exploded. However, the search is continuing unabatedly and not just on the mainland. Are diamonds from the ocean the diamond industry’s future? How do we reclaim diamonds from the sea?

Why reclaim from the sea?

Diamonds were first formed many millions of years ago and pushed up to the earth’s surface as a result of volcanic activity. Most of the well-known diamond stocks can be found on the mainland. But there is still a substantial stock of diamonds available on the seabed too, which has so far not been extensively explored due to the expense involved.

That is why there have only been a handful of subsea, relatively small diamond mines for a long period of time. However, it looks like this is now about to change as a result of the development of new techniques and a growing interest from investors and governments.

Who first started subsea mining?

The Marine Diamond Corporation first started the diamond reclamation process in Oranjemund, a piece of coast on the border between South Africa and Namibia, back in the nineteen fifties. More than 1.5 million carats of diamonds were reclaimed here from a very small area in the nineteen sixties. Namdeb Paulus Shituna’s CEO stated that 10 years ago 30% of all diamonds were reclaimed from subsea mines and 70% on the mainland. Apparently this is now the other way around.

Today most subsea mining is still being doing along the Namibian coast. This is done by large ships which are reclaiming the diamonds either horizontally or vertically. This means it isamond experts for advice for your investmentts a result of subsea miningncrease in the raw material.well push up the price ofis being done either with an enormous hoover or a gigantic drill. The latter is the cheapest option, but both methods are still incredibly expensive.

What are the sea reclamation expectations?

Experts believe there is still approximately 1.5 billion carats worth of diamonds available under the Namibian coastline. Other subsea regions may well harbour a wealth of gemstones too. The United States has heavily invested in the private company UK Seabed Resourced, in order to start digging along the Hawaiian coast. The exploitation of diamond mines in the sea is continuing to grow, but has not yet been happening for long enough to substantiate any projections. This more expensive form of mining may well push up the price of the diamond, or perhaps it may even make diamonds cheaper because of the increase in the raw material.

How can I make a smart diamond purchase? What short-term impact on the diamond market can be predicted as a result of subsea mining? Ask BNT Diamonds’ diamond experts for advice for your investment.

Author: Laetitia De Backer
Source: BAUNAT

With this article, BAUNAT strives to inform you thoroughly about investing in diamonds. No investment can be guaranteed to be without risk or fully according to your expectations. That is why we recommend to research the risks and aspects of investing in diamond properly to ensure that you make the right choice for your portfolio.


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