Most Top 10 Diamond Producing Countries

In the past, diamonds used to be rare, but South Africa and Congo changed that by discovering diamond deposits never seen before, leading to the production of diamonds at a mass scale.

There are producers of diamonds that mine rough diamonds, sort them, and then sell them. There are cutters and polishers of diamonds, who buy rough diamonds from producers, then cut and polish them to produce diamond gemstones. Lastly, retailers sell diamonds as jewelry to consumers. Every step of the way involves a rigorous process that has been refined for the last 100 years and is highly profitable.

Worldwide reserves are estimated to be around 1.2 billion carats. Russia produces 30% of the world’s diamond gemstones.

Large retailers control 35% of the jewelry diamonds market.

The top 5 players control 70% of the rough diamonds market.

The top 5 companies that produce rough diamonds: Petra Diamonds, Dominion Diamond Mines, Rio Tinto, De Beers, ALROSA.

Midstream inventories grew in 2018 and are on the rise.

Botswana, South Africa, and Canada have the highest growth rates in diamond production.

1. Russia

Russia ranks number 1 on the list of the top 10 diamond producing countries in the world as of 2020. Russia produces 23,000,000 carats of gem-quality diamonds in the world to be the leading nation among the top producers of diamonds in the world. Russia has been the major-diamond producing country since 2009 and diamonds have been found in Russia as far back as the 18th century, Russia produces 30% of the world’s diamonds.

Russia Diamond Production: 23,000,000 carats.

2. Botswana

Botswana is a landlocked country in Southern Afric. Botswana is the second-largest producer of diamonds in the world in 2020. Botswana was a pioneer nation in bulk sampling and was one of the first countries to characterize and identify diamond pipes across a large and difficult geographic area.

In 1966, the first diamond deposits were discovered in Botswana. Botswana diamond production grew by 6% last year, the fastest growth rate among the top 10 diamond producing countries in the world.

Botswana Diamond Production: 16,000,000 carats

3. Canada

When it comes to diamond production, you wouldn’t think Canada would rank near the top of major diamond producing countries. Canada is the biggest surprise on this list and ranks 3rd among the top 10 diamond producing countries in the world in 2020. Currently, the youngest diamond producing country on this list, geologists discovered diamond deposits in the Arctic area and now Canada has become a leading diamond producing country.

Canada has major diamond mines located in Diavik, Ekati, and Gahcho Kué in the North West Territories, the Renard mine in Quebec, and the Victor mine in Ontario ran leading diamond companies such as Rio Tinto, Dominion Diamond, De Beers, and Stornoway Diamonds.

Canada Diamond Prodcution: 13,000,000 carats.

4. Angola

Angola is an African country rich in diamonds, known for its extensive diamonds reserves and in 2018 produced 8,500,000 carats of gem-quality diamonds in the world. Diamond production in Angola began when it was a Portuguese colony over 100 years ago.

Angola is especially known for its Lulo Mine, owned by Lucapa Diamond Company. Angola’s major resources are diamonds and oil.

Angola Diamond Production: 8,500,000 carats.

5. South Africa

Prior tom South Africa entering diamond production, the commodity was truly a rare gem, but South Africa made it mainstream. Currently, South Africa produces 7,700,000 carats of diamonds per year and is home to lucrative and highly-sought-after pink and blue diamonds. Although the pioneer of diamond production, currently South Africa’s diamond mines have aged and very few large deposits are found today. Still, South Africa continues producing diamonds from alluvial deposits and pipes within the country.

6. DR Congo

DR Congo is the nation that made diamond-producing profitable for South Africa. DR Congo produces 3,700,000 carats of diamonds today. In addition to diamonds, DR Congo is also known as a leading producer of cobalt, copper, tantalum, tin, and gold.

7. Namibia

Diamond mining in Namibia started over 100 years ago in 1908. Currently, Namibia is one of the major producers of diamonds in the world. These days, diamonds are mined offshore in Namibia’s exclusive economic zone in water over 140 meters deep. Namibia produces 1,900,000 carats of diamonds annually.

8. Lesotho

Lesotho may be a tiny kingdom in South Africa, but the nation is known for efficiently and consistently producing diamonds.

Lesotho is known for running the Letseng mine, a record-breaking mine, as it has the highest average “dollar per carat” yield of all kimberlite mines in the world. As of 2020, Lesotho produces 1,100,000 carats of diamonds in the world.

9. Australia

Another relatively young country in this list of the top 10 diamond producing countries is Australia. Australia started commercial production in 1981 and quickly jumped up the ranks of the top diamond producers. The new Argyle underground diamond mine in Western Australia is one of the nation’s top mines. Australia currently produces 340,000 carats of diamonds annually.

10. Tanzania

Rounding out BizVubes’s list of the top 10 diamond producing countries in the world is Tanzania. Tanzania produces 260,000 carats of diamonds annually and is known for the Williamson Diamond Mine. The Williamson Diamond Mine is known as the first diamond mine outside of South Africa.