21-2-2019
The Fancy Color Research Foundation (FCRF) predicts the majority of the 45 most notable diamond mines operating will die within half-century leading most of the diamond supplies will be sourced from the second-hand market. Prehistoric volcanic eruptions brought some of the unearthed diamonds below the earth’s crust at a reachable level, where the vast majority of mines locate. According to the list by FCRF (photo 1), mines will be closing in one to five years including Argyle, Diavik and Victor etc. 13 percent of the 40 operating mines which account for 90 percent of the global diamond expected to run for 40 to 60 years, once all operating mines have been depleted, second-hand diamonds market will turn into the largest ‘diamond mine’.
Fancy coloured diamond as the rarest diamond categories will take the lead in a sharp price rise, particularly pink diamonds. “The state of mind that we all need to adopt is that the second-hand market will thrive and dominate diamond trading in the coming years. The last diamond that will be unearthed in about 60 years will hail in a new era, following decades of sharp price increases of diamonds in general and Fancy Color diamonds in particular,” FCRF stated at the report.
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