Diamond Reserves and Leading Diamond Companies > CommonSense

### **Countries with the Largest Diamond Reserves and Leading Diamond Companies**

Diamonds are among the most valuable natural resources in the world, known for their brilliance and cultural significance as symbols of love and luxury. The distribution of diamond reserves is concentrated in a few key countries, and the industry is dominated by a handful of multinational companies. Below is a detailed overview of the countries with the largest diamond reserves and the major companies that control the global diamond market.

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### **Top Countries with Large Diamond Reserves**

#### **1. Russia**
- **Diamond Reserves:** Russia holds the largest diamond reserves in the world, estimated at over **650 million carats**.
- **Major Mining Areas:**
  - **Siberia:** The Yakutia region is home to some of the world’s richest diamond mines, including the Mirny and Udachnaya mines.
  - **Arkhangelsk:** Known for the Grib diamond mine.
- **Annual Production:** Russia is the largest diamond producer globally, producing approximately **39 million carats per year**.
- **Key Features:** Russia is renowned for producing high-quality gem-grade diamonds.

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#### **2. Botswana**
- **Diamond Reserves:** Botswana ranks second globally, with reserves of approximately **300 million carats**.
- **Major Mining Areas:**
  - **Jwaneng Mine:** Known as the world’s richest diamond mine by value.
  - **Orapa Mine:** One of the largest diamond mines by surface area.
- **Annual Production:** Produces around **22 million carats annually**, contributing significantly to the country’s economy.
- **Key Features:** Botswana's economy heavily relies on diamond mining, with a strong focus on sustainable practices and revenue-sharing agreements.

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#### **3. Democratic Republic of Congo (DRC)**
- **Diamond Reserves:** Estimated reserves of over **150 million carats**.
- **Production Focus:** The DRC primarily produces industrial-grade diamonds rather than gem-quality stones.
- **Annual Production:** Around **14 million carats per year**, mostly sourced through artisanal mining.
- **Challenges:** The country faces issues such as unregulated mining, political instability, and lack of infrastructure.

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#### **4. Australia**
- **Diamond Reserves:** Approximately **80 million carats**, primarily of industrial-grade diamonds.
- **Major Mining Areas:**
  - **Argyle Mine:** Located in Western Australia, famous for producing rare pink and red diamonds. (The mine ceased operations in 2020 but contributed significantly to global supply.)
- **Annual Production:** Historically produced **10–15 million carats per year** before the closure of the Argyle Mine.
- **Key Features:** Australia was a leading producer of colored diamonds, particularly pink diamonds.

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#### **5. Canada**
- **Diamond Reserves:** Estimated at **60 million carats**.
- **Major Mining Areas:**
  - **Diavik Diamond Mine** (Northwest Territories): Produces high-quality gem-grade diamonds.
  - **Ekati Diamond Mine:** Canada’s first diamond mine, known for ethical and environmentally friendly mining practices.
- **Annual Production:** Around **13 million carats per year**.
- **Key Features:** Canadian diamonds are valued for their ethical sourcing and high-quality standards.

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#### **6. South Africa**
- **Diamond Reserves:** Estimated at **50 million carats**.
- **Major Mining Areas:**
  - **Kimberley:** Known as the birthplace of large-scale diamond mining.
  - **Venetia Mine:** South Africa’s largest diamond mine, operated by De Beers.
- **Annual Production:** Produces approximately **9 million carats per year**.
- **Key Features:** South Africa has a rich diamond mining history and was the first major producer of diamonds in the modern era.

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#### **7. Angola**
- **Diamond Reserves:** Approximately **40 million carats**.
- **Major Mining Areas:**
  - **Catoca Mine:** One of the largest diamond mines in the world, responsible for the majority of Angola’s diamond output.
- **Annual Production:** Produces around **8 million carats per year**.
- **Key Features:** Angola's diamond industry is growing rapidly, contributing significantly to its GDP.

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### **Top Diamond Companies in the World**

#### **1. De Beers Group**
- **Headquarters:** London, United Kingdom.
- **Market Share:** Historically controlled over 80% of the global diamond trade; currently around 30%.
- **Operations:** Mines in Botswana, South Africa, Namibia, and Canada.
- **Key Features:**
  - Known for creating the "A diamond is forever" marketing campaign.
  - Operates joint ventures with governments, particularly in Botswana (Debswana).

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#### **2. Alrosa**
- **Headquarters:** Mirny, Russia.
- **Market Share:** The world’s largest diamond producer by volume, accounting for approximately 27% of global production.
- **Operations:** Major mines in Siberia, including Mirny and Udachnaya.
- **Key Features:** Alrosa is a state-controlled company and a dominant force in the Russian diamond industry.

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#### **3. Rio Tinto**
- **Headquarters:** London, United Kingdom.
- **Operations:** Previously operated the Argyle Mine in Australia and continues to produce diamonds from the Diavik Mine in Canada.
- **Key Features:** Known for its production of rare colored diamonds, particularly pink diamonds from the now-closed Argyle Mine.

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#### **4. Petra Diamonds**
- **Headquarters:** London, United Kingdom.
- **Operations:** Operates several mines in South Africa, including the Cullinan Mine, famous for producing the largest gem-quality diamond ever found.
- **Key Features:** Specializes in producing large, high-quality gem diamonds.

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#### **5. Dominion Diamond Mines**
- **Headquarters:** Calgary, Canada.
- **Operations:** Manages the Ekati and Diavik mines in Canada.
- **Key Features:** Focused on ethical and environmentally responsible diamond mining.

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#### **6. Lucara Diamond Corporation**
- **Headquarters:** Vancouver, Canada.
- **Operations:** Operates the Karowe Mine in Botswana, known for producing exceptionally large diamonds, including the 1,109-carat Lesedi La Rona.
- **Key Features:** Specializes in high-value diamond production.

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#### **7. Gem Diamonds**
- **Headquarters:** London, United Kingdom.
- **Operations:** Operates the Letseng Mine in Lesotho, known for producing some of the largest and most valuable diamonds.
- **Key Features:** Focuses on high-value, gem-quality diamonds.

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### **Global Diamond Production Trends**
1. **Shifts in Mining Locations:**
  - Countries like Botswana, Canada, and Russia now dominate production, while traditional producers like South Africa have seen declines.
2. **Ethical Concerns:**
  - Consumer demand for ethically sourced diamonds has increased, with initiatives like the Kimberley Process helping to reduce conflict diamonds.
3. **Synthetic Diamonds:**
  - Lab-grown diamonds are becoming a competitive alternative due to their lower cost and environmental impact.

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### **Conclusion**
The diamond industry is heavily concentrated in a few countries with significant reserves, such as Russia, Botswana, and the DRC, and is dominated by key players like De Beers, Alrosa, and Rio Tinto. These companies have shaped the global diamond market through their mining operations and marketing strategies. However, the rise of synthetic diamonds and growing demand for ethical sourcing are reshaping the industry’s future.