Today diamonds slightly decrease in prices because banks around the world halted advancing money to the industry players six years ago. Although diamond industry in its current state is in trouble, which is a result of financial scams involving well-known people in the diamond business, the natural diamonds are expected to continually grow in value. And the reason for this may remind the reason for which the bitcoin’s price is predicted to grow - the limited supply.
The major diamond mines will reach the end by as early as 2030, leading to a raw diamond production to fall by 50 percent from current levels. The things will get even worse by 2050, when only 14 million carats are expected to be mined globally. Compare it to 142 million carats of natural diamonds mined in the year 2017 and you will see, that the prices will inevitably rise.
Here’s some more information on shrinking raw diamond production:
- Argyle (Australia) and Ekati (Canada) mines now have reserves for only 6 years
- Kimberly - the famous mine in South Africa, also called “Big Hole” - will reach the end of the life in 9 years
- Open pit reserves in Venetia mine in South Africa are already exhausted
- Voorspoed mine in South Africa will end by 2021
Some say diamonds are no good investments. But this is true regarding the current monopolized industry only, which is already on the brink of extinction. The time will bring changes soon, modern technologies will open new possibilities, tokenization will make diamond a traded asset and an excellent investment solution. Be among the first to join the new Diamond Open Market!