Rough diamond sales to cutting centres increased by 19 per cent in 2016, to an estimated US$16.3 billion. De Beers and ALROSA remained the largest suppliers of rough diamonds in 2016, accounting for 37 per cent and 27 per cent of global sales to cutting centres, in value terms. The increase in rough diamond sales in 2016 was largely driven by midstream re-stocking activity following the period of significantly reduced rough diamond-buying in late 2015.
1 Okavango Diamond Company sales, by value, are accounted for in the De Beers market share estimate as sales from Diamond Trading Company Botswana.
2 De Beers estimates. De Beers has lower confidence in estimates of informal production.
Sales values are based on De Beers estimates where company reports are unavailable.
De Beers and Mountain Province Diamonds. Anticipated average annual production: 4.5 million carats.
Stornoway Diamonds. Anticipated average annual production: 1.6 million carats.
Firestone Diamonds. Anticipated average annual production: 1.0 million carats.
ALROSA. Due for completion in 2018. It is the only greenfield project expected to be commissioned in the medium term.
Several brownfield expansion projects are under way, including:
Rio Tinto and Dominion Diamond Corporation. Production is set to begin in 2018.
Debswana. Production from the Cut-8 project began in 2017.
Dominion Diamond Corporation. The anticipated extension is expected to extend production to 2033.
De Beers. Development of the underground operation is expected to extend production to 2046.
ALROSA announced in 2017 that it has plans to work with ENDIAMA to develop the Luele kimberlite mine in the Luaxe concession in Angola. While information remains limited, ALROSA and Angolan authorities have spoken of a significant discovery.