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 - Rough diamond prospects are sound, despite the economic downturn. There has been a healthy demand for diamonds throughout the first half of 2008, which has supported sustainable price growth and prices are anticipated to close above those of 2007. - DeBeers - [Miningmx.com, 14/10/08]
- Despite the current economic turmoil spreading around the world, diamond demand is poised to grow due to demand from Russian, Middle Eastern, Indian and Chinese consumers and investors looking for a safe haven. - Harry Winston - [AFNS, 7/10/08]
- Demand for safe-haven investments and a dearth of significant new mines will lift diamond prices after the world financial market stabilizes. [National Post, 30/09/08]
- Global supplies of rough diamonds are unlikely to meet the expected demand as purchases rise with wealth in Russia, the Middle East and in Asia [National Post, 30/09/08]
- Since Early 2007, the price of some 3-carat diamond have risen fourfold on speculation demand would outstrip supply [National Post, 30/09/08]
- As sales in the U.S. have slowed, women in Russia and the Middle East have been increasing purchases of diamonds as security against the possibility of divorce [National Post, 30/09/08]
- The average price of rough diamonds is up by almost 100% since January 2002, and by around 20% so far in 2008 [BMO Capital Markets, 05/09/08]
- Rough diamond prices have continued to rise despite the credit crunch and related adverse economic factors [BMO Capital Markets, 5/09/08]
- Demand will outrun supply in the world diamond market in the next few years. [AWDC, 19/12/07]
- While supply is growing 1% per year, demand is growing at 4 to 5%, meaning that every year $650 million worth of demand is being added to the $13 billion rough diamond market [AWDC, 19/12/07]
- That annual growth in demand is about half the size of total South African production [AWDC, 19/12/07]
- Currently, the level of demand for diamonds, particularly those of high colour and quality, is not being met by the world's producing diamond mines, and diamond stockpiles have tumbled 75% since 2000. [Globe & Mail Aug 28/07, National Bank Financial]
- Demand is growing 4 to 5 % a year while supply is only growing 1% a year. Demand will outrun supply in the world diamond market in the next few years. [Alan Hochreiter, AWDC 19/12/07]
- Diamond prices are expected to hit new highs over the next 12 months, as the divide between supply and demand widens. Prices will increase by up to 10% over the next year as the industry attempts to balance the market. [Mining Weekly, 16/10/07]
- Consumption is expected to exceed production as early as 2008 due to the increasing demand from large markets in China and India, and rising diamond purchases in Russia and South America. [MineWeb, 24/05/07]
- China expects to import $900 million worth of diamonds in 2007 and double that within five years. [Israeli Diamond Co 18/10/07]
- The Chinese diamond trade has grown sevenfold since 2001 [AWDC, 19/12/07]
- DeBeers, the world's primary diamond seller increased rough prices 10% in 2003; 14% in 2004; 9.5% in 2005; 8.4% in 2007; and, prices increased by 16% in 2008. [BMO Capital Markets, 05/09/08]
- Diamond prices will rise to 'unprecedented levels' as demand outpaces production. For the first time the world faces a growing deficit of rough diamonds. [Bloomberg 17/10/07]
References:
Antwerp Facets News Service; Antwerp World Diamond Centre;
Bloomberg News; BMO Capital Markets; diamondfacts.org; Government of Northwest Territories; Gulf News; Isreali Diamond Company; Miningmx.com; National Post; Natural Resources Canada; News Room; Rapaport News |
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