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 Products Chapter
The Diamond and Gemstone Mining industry's major product is diamonds, accounting for an estimated for 92.8% of industry revenue and 88.3% of industry volumes in 2013-14. The only other gemstone that accounts for a material share of industry revenue is the opal, with sapphires, chrysoprase and some other gemstones only accounting for a small proportion of the industry.
An estimated 7.9% of the diamonds mined in Australia are of gem quality, making them suitable for use in high-quality jewellery. This is up from 5.1% in 2008-09 due to higher volumes from Rio Tinto's Argyle mine and Kimberley Diamonds Ltd. Gem-quality diamonds attract much higher prices than cheap gem or industrial-grade stones... purchase to read more