A diamond is the world’s most beautiful and precious stone that greatly enhance the beauty of wearer. It is considered as the symbol of status, pure love and royalty. It plays an important role in driving economic growth and prosperity in countries around the world where diamond is being produced. In poor African countries, revenue from its production are now being used in building economy
, infrastructure and fight against HIV/AIDS
. Most of its resources are present in Africa where large reserves are still unexplored.For a long time, Africa was leading the world in its production since Diamond-producing countries were only concentrated in Africa which contributed major portion of global supply but it is no longer the only continent to produce it. Now its production has spread to many parts of the world. Large diamond reserves are now being discovered in other continents. Russia and Canada have grown rapidly in this field, paying special attention on modernizing its cutting and polishing sector and continuously diversify the global supply of gem-quality diamond production. African countries are accounted for 65% of world production. Canada, Russia and Australia are also capturing the major share of global market.
Top Ten Countries with Most Diamond Production in the World
Russia is the largest diamond producing country in the world, contributing to 25% of the global supply. ALROSA is the leading company which accounted for 97% of country’s production. Yakutia and Arkhangelsk Oblast account for 80% and 18% of total Russian reserves. The country is among the top largest mineral industries of the world with most abundant natural resources. High Gem quality diamonds are being produced which are getting high appraisal value in the international market. Natural resources are the major export products of the country.
Botswana is the biggest producer of diamonds in term of value, which accounts for 20% of the global supply. Half of government revenue comes from this industry, contributing approx 40% of country’s GDP. Jwaneng, the world’s richest diamond mine by value, is also present in Botswana.
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