………………………………………………………………………………………………………………………………………………………………….

The Chairman of De Beers, Nicky Oppenheimer believes there is a very high likelihood that the international demand for diamonds is “most probably” outstripping the supply.

He noted that Indian and Chinese markets “tremendously” desire diamonds and that both countries will be vital diamond markets in the future. He also pointed out that the US still accounts for one half of the diamond retail market.

Oppenheimer was quoted saying: “What one’s seeing at the moment is that everything shows that the demand for diamonds is most probably outstripping supply, and so, as a diamond producer, we want to produce as many diamonds as possible.”

The use of non-conflict diamonds that are mined from African countries is difficult because diamond producers do not always know where the diamonds are coming from.   If buying from unknown sources in Africa, the purchase could fuel the civil wars by adding to the funds they have available to purchase weapons.

Source: Israel Diamond Industry Portal

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