World’s Supply of Diamonds is Running Out Says DeBeers

diamond mine

Biggest diamond mine in the world, Mirny, Russia, East Siberia.

In what appears to be a blatant attempt at market manipulation, De Beers says it will reduce its production to extend the life of its mines. Taking into account the moderated output diamond prices could rise by at least 5 per cent a year for the next five years, according to Des Kilalea, a diamond analyst at RBC Capital Markets.

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