Images of Diamonds
 Diamond mines are extremely rare, and the world supply is expected to remain essentially flat over the next few decades as demand increases. New supply is in high demand. Canada is the first country in the developed world to produce and market high quality diamonds, and is benefiting from an increasingly important role in the global market.
In 2005, it is estimated that diamonds worth US$13.2 billion were mined, at a production cost of approximately US$4.8 billion. About half of this production was sold by De Beers’ Diamond Trading Company, and the rest by producers such as Alrosa, Aber, and Rio Tinto to rough dealers.
After polishing, the value of these stones was US$20 billion, of which US$17 billion went into the US$69.3 billion worth of diamond jewellery sales in 2005. The U.S. had the most sales at US$31.3 billion; Europe followed at US$13.4 billion, Japan at US$9.6 billion, and the rest of Asia at US$7.5 billion.
Within the world production of 160 million carats or US$13.2 billion worth of diamonds, Canada has emerged as a major player, accounting for 7% by carat and 10% by value, behind South Africa at 12% of value, Russia at 19%, and the largest producer, Botswana, at 25%.
In Canada, the average realized price is about US$110 per carat, compared to US$15 per carat in Australia, which produces 19% of the world’s total carats but only 4% by value. The world average is US$80 per carat. 
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