No big diamonds have been discovered in 20 years. Minerals are expected to increase by 5% a year.
De Beers, the world’s leading diamond mining company, is forecasting a long-term decline in diamond supply. According to Ralph Clarley, an analyst at Royal Bank of Canada Capital Markets, if production levels decrease, raw diamond prices could rise by at least 5% annually over the next five years. This suggests a potential shift in market dynamics as supply struggles to keep up with demand.
In addition, De Beers has noted a growing appetite for diamonds among China's affluent population. By 2016, the country’s share in the global diamond jewelry market is expected to double to 16%, signaling a significant shift in consumer behavior and market influence.
Starting from 2011, De Beers plans to maintain a stable annual output of 40 million carats, down from 48 million carats in 2008. Penny, the company’s Managing Director, highlighted that rising demand in Asia could accelerate the exhaustion of existing diamond reserves worldwide. This trend underscores the increasing pressure on global diamond resources.
For the past two decades, the diamond industry has struggled to discover new mines of comparable size to De Beers’ major African operations or Alrosa’s top Russian mine. This lack of new sources reinforces concerns about future supply constraints.
Despite accounting for 40% of global rough diamond sales, De Beers faced a challenging year in 2009, which led to a net loss. However, the company anticipates benefiting from what Penny describes as the “unbalanced nature of supply and demand†over the next five years. Analysts also view production cuts as a potential step toward a possible re-listing of the privately held company, as it could help stabilize and improve long-term output.
De Beers recently responded to media inquiries, stating that this year’s diamond sales have been strong. It expects production to rise from 30 million carats in 2010 to 40 million carats in 2011. The company also mentioned that due to recent changes in its mine assets, achieving peak production may become more difficult in the coming years.
ã€Design Highlights】
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ã€Usage experience】
Delicious upgrade: The unique smoky flavor produced by charcoal burning makes your barbecue food more attractive. The golden and crispy skin locks in the delicious juice of the ingredients, making every bite full of happiness.
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