Industry Analysis & Industry Trends
Australia is a major producer of diamonds. Although most of its output by volume is classed as cheap gem or industrial grade, it also mines high-value fancy pink and yellow diamonds that can command very high prices on global and domestic markets. The Diamond and Gemstone Mining industry is expected to generate revenue of $801.4 million in 2013-14. This is down from $867.8 million in 2008-09, representing an annualised decline of 1.6%. The decline reflects lower output, while diamond prices have increased slightly on average. Despite the overall decline, industry revenue is forecast to increase by 15.9% in 2013-14 on the back of significantly higher output and prices from Rio Tinto's Argyle mine... purchase to read more
Industry Report - Industry Locations Chapter
This industry's geographic spread reflects the location of gemstone deposits. The great bulk of industry revenue comes from Western Australia, where all of Australia's diamond production originates. Western Australia also accounts for the bulk of Australia's chrysoprase output. South Australia and New South Wales are the major producers of opals, while Queensland produces sapphires and some emeralds.
In 2013-14, IBISWorld estimates that Western Australia will account for 91.3% of industry revenue from 68.9% of industry enterprises. Just two companies, Rio Tinto and Kimberley Diamond Ltd, dominate the industry and industry revenue levels. A large number of companies operating in the industry are very small operators with low income each year... purchase to read more