World Of Gems Conference 2017 Proceedings Book

WORLD OF GEMS CONFERENCE V - 7 - SEPTEMBER 2017 W orld rough diamond production is projected to be 148 million carats which is up 14% in carats from 2016. The estimated value is up 10% to $15.8 billion which is a worldwide average of $107.00 per carat for run of mine production. The current production level of the estimated worldwide capacity is at 96%. Botswana’s Jwa- neng mine is the world’s largest diamond mine in terms of value and is estimated to produce 15% of the world’s dia- mond supply. THE DIAMOND MARKET: PROFITS, PRICING, PROJECTIONS AND PROBLEMS Jon C. Phillips GIA GG, CG (AGS) DIAMOND MARKET ABSTRACT Canada is the world’s third largest producer by value and currently has five operating mines which are estimated to produce almost 18 million carats at $2 billion in value in 2017.